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We’re living today in a rapidly changing world. Globalization and technology are accelerating the pace of change, and a growing population is putting more TABLE O F pressure on our planet’s resources. Through science and collaboration, Dow’s people are working across the Company to redefine the role of business by innovating solutions that advance business and society and by valuing nature in all of our decisions. With our 2025 Sustainability Goals, Dow is focused on CONTENTS Redefining the Role of Business in Society developing collaborative blueprints that integrate public policy solutions, science and technology, and value chain innovation. The aim is to build solutions between government, business and society that generate shared value and are long lasting, scalable and transformative. These 10-year goals are designed to harness Dow’s innovation strengths, global reach and the passion of our employees.

WHO WE ARE WHY WE DO IT WHAT WE DO HOW WE DO IT INTRODUCTION ADDITIONAL GRI PROFILE GLOBAL OUR PRODUCTS OPERATIONS & INFORMATION CONTENT INDEX & PEOPLE CHALLENGES & OUR & SOLUTIONS PERFORMANCE COMMITMENTS

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ABOUT THE DOWDUPONT MERGER TRANSACTION AND INTENDED BUSINESS SEPARATIONS GRI 102-10 Dow (“the Company”) has been committed to transparently reporting our progress For the 15th year, Dow has applied the framework provided by the Global Reporting on sustainability for many years. This report reflects the Company’s performance for Initiative (GRI) to its annual sustainability report. GRI 102-52 This report has been Effective August 31, 2017, The Dow Chemical Company (“Dow”) and E. I. du Pont de DowDuPont also announced brand names for the Intended Business Separations the calendar year ended December 31, 2017. GRI 102-50 Except where noted, prepared in accordance with the GRI Standards Comprehensive option. GRI 102‑54 Nemours and Company (“DuPont”) completed the previously announced merger of reflecting its ongoing progress toward the separations. the scope of this report includes The Dow Chemical Company before the merger The Comprehensive option requires that the Company report all of the General equals transaction contemplated by the Agreement and Plan of Merger dated as of transaction and Dow as a subsidiary of DowDuPont after the merger. The Company Disclosures described in the GRI Standards as well as all of the Specific Disclosures • The Agriculture division will become Corteva Agriscience™, reflecting December 11, 2015, as amended March 31, 2017 (the “merger transaction”). The is proud to present this summary of the achievements of Dow employees around the related to issues material to us. Neil C. Hawkins, chief sustainability officer and its purpose of enriching the lives of those who produce and those who merger transaction resulted in each of Dow and DuPont surviving as subsidiaries world that advance our corporate sustainability strategy and goals. corporate vice president, Environment, Health & Safety, provides formal internal review consume. of DowDuPont Inc. (“DowDuPont”). For purposes of this report, references to “the of the report. GRI 102-32 We also have used an independent assurance process Company” refer to Dow. • The Materials Science division will be called Dow and will retain the This document also serves as Dow’s UN Global Compact Communication on Progress to verify compliance with the GRI standards. See page 124 of this report for the DOW® Diamond as its brand, building on the Company’s globally for 2017. Independent Assurance Statement. DowDuPont is now pursuing the intended separation of the Agriculture, Materials recognized 121-year history of innovation and value creation. Science and Specialty Products divisions into three independent, publicly traded companies (the “Intended Business Separations”). • The Specialty Products division will be the new DuPont, carrying forward a 215-year legacy of science-based innovation to transform industries DowDuPont announced dates for the Intended Business Separations: Materials and everyday life. Science is expected to separate from DowDuPont by the end of the first quarter of Effective with the Merger, Dow’s business activities, including the assessment of 2019, and Agriculture and Specialty Products are each expected to separate from one current aspects of sustainability policies and performance, ultimately are reviewed and another by June 1, 2019. managed by DowDuPont. As a result of this governance structure, certain information in this report is presented for DowDuPont. Additional reporting that may be of interest to the reader can be found at www.dow.com or www.dow-dupont.com:

• Downloadable version of this report, including additional interactive information • 2017 DowDuPont Annual Report • 2017 DowDuPont Form 10-K 1 • 2018 Proxy Statement • 2017 Dow Form 10-K • The Diamond Standard, Dow’s Code of Business Conduct (“Dow’s Code” and “Code”) • Dow’s most recent previous report, covering the year ending December 31, 2 2016, and archive of earlier annual sustainability reports GRI 102‑514 Thank you for your interest in our report. We welcome your questions, comments and feedback. You may contact us at:

Jennifer Princing 3 Dow Sustainability Reporting [email protected] 989-496-7154 GRI 102-53

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At Dow, we see the role of business as a catalyst for change – as Just as important, we see our sustainability efforts as an important way to strengthen our long-term competitiveness. As a global material science company, we have the talent and tools to help impact climate change, energy, food waste, sustainable infrastructure and consumer living. Our 2025 Sustainability Goals address each of the 17 UN a driver of innovations that protect life and the environment, while Sustainability Development Goals and are influencing every aspect of our strategy – from helping guide future innovation efforts for our customers to inspiring employee empowerment and leadership opportunities. While we don’t have all the answers, I’m proud of the progress we already have made in many areas: creating sustainable economic growth. With our ambitious 2025 • Rethinking a Linear Economy: We are collaborating with groups such as Ocean Conservancy, Ellen MacArthur Foundation and stakeholders across the packaging value chain to identify paths to new Sustainability Goals, we have committed to help redefine the role business models that enable a more circular economy. Last year, we launched the first quantitative studies to reduce plastic waste in Japan and helped the Indonesian government to turn plastic waste of business in society. A common thread across our into sustainable roads – paving the way to a more sustainable future. • Promoting Inclusion and Diversity: Dow has long believed in the business case for diversity. With the appointment of our first-ever chief inclusion officer last year, we are driving forward a number of goals is our focus on finding collaborative business initiatives to create a more inclusive and diverse workforce. • Investing in Workplace Safety: The safety of our people and the communities in which we operate models that will lead to transformative and more is at the heart of everything we do. As part of our 2025 LIFE multigenerational technology plan, we are innovating new technologies to remove workers from high-hazard activities. Examples include the use COLLABORATING of robots in confined space projects and drones to eliminate certain elevated work. sustainable ways to do business. Not just for • Pioneering Practical Ways to Value Nature: We continue to work with The Nature Conservancy to FOR IMPACT find ways to incorporate nature into decision-making and to develop tools that can be used by other Dow, but for other companies, businesses as well. Just last year, we generated $120 million in cost savings or new cash flow through projects that were good for business and better for ecosystems. Sincerely, communities and society too. At Dow, our business is not just about the products we create, but the problems we solve. At the heart of our purpose- led business approach are the women and men of Dow. It is their passion, innovation and commitment that fuel our progress. Together, we continue to help lead the transition to a more sustainable society through our commitment toward collaboration and science-based solutions.

Jim Fitterling Chief Executive Officer, Dow Chief Operating Officer, DowDuPont Materials Science Division GRI 102‑14

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Driving a Culture of Collaboration 2017 Company Highlights As a global materials science company, we recognize the role that science and business can play in building a better world for 2030 and beyond. That is why our 2025 Sustainability Goals are focused on creating shared value – value DELIVERING ON OUR MAXIMIZING GROWTH FROM CONTRIBUTING INVESTING IN GROWTH for business and society. Our aim is to use the powerful combination of our innovation capabilities, global reach and COMMITMENTS SCIENCE‹DRIVEN INNOVATION SUSTAINABLE SOLUTIONS know-how in science to create market-based solutions that help shape the transition to a more sustainable planet. Just two years into our 2025 Goals, we have taken a number of actions to translate our ambitious set of targets into SADARA practical business practices. 15% INCREASE Commemorated the commissioning of all 789 11th U.S. EPA Presidential Green While I am excited about our progress, I am even more excited about how these goals are helping us rethink business in Dow Net Sales U.S patents granted to .B in 2017 26 PLANTS 9th consecutive annual increase Chemistry Challenge Award models and product designs across Dow. Take, for example, our approach to circular economy solutions. Adopting of Sadara, the world’s largest integrated For development of ROPAQUE™ from 4.2B in 2016 chemicals complex built in a single phase and an all-time record high for Dow a mindset that moves away from a “take-make-dispose” economic model to one that is regenerative has led us to NT-2900 Opaque Polymer for BLUE innovate and collaborate in new ways and across multiple value chains. We are exploring how to give new life to old 4EST™ Thermal Paper of Dow’s revenue mattresses by recycling polyols. We are working with municipalities in water-stressed regions to reuse water for our TWENTY ONE U.S. GULF COAST represents patent- operations. We are piloting programs that convert plastics that once went to landfills into valuable energy resources. Startup of world-scale ethylene 20% advantaged sales 2017 U.S. EPA Consecutive quarters And we are just getting started. facility and ELITE™ enhanced Safer Choice Partner of the Of top- and bottom-line growth polyethylene resins production facility in for Dow as of the end of 2017 MORE Year Award In 2017, we affirmed that our 2025 Sustainability Goals would continue to be the goals of the future Dow, currently Freeport, Texas THAN 2,500 For the development of safer product the Materials Science Division of DowDuPont, upon intended separation of the Company. In reviewing and assessing New products in target markets innovations, ECOSURF™ EH Surfactants our metrics and targets, it became clear that the societal challenges and business opportunities that inspired our per U.S. Gulf Coast, Europe and Michigan and BLUEDGE™ Polymeric Flame goals are even greater today than when we launched them in 2015. As we look ahead, we believe that by accelerating $1.89 share Announced construction of a new Retardant (FR) Technology our actions to help make the world more sustainable, we also will accelerate our path to become an even more ANNOUNCED Sincerely, innovative, resilient and growing company – now and in the decades to come. Highest annual dividend $4B in Dow history in additional investments over five $100M years to enhance competitive advantage INNOVATION CENTER 3000+ Dow Science, Technology, Engineering We invite you to learn more about our progress and welcome your feedback. and long-term growth in Midland, Michigan - Extends Dow’s U.S. Gulf Coast growth & Math (STEM) ambassadors investments to over a 10-year volunteered hours, engaging $12 billion R&D 100 AWARDS 25,000 5% period Neil C. Hawkins in Material Science Division from R&D Magazine; 23,000+ students in classrooms Chief Sustainability Officer and Corporate Vice net sales to .1MM in 2017 6th straight year Dow products recognized President for Environment, Health & Safety from 4.919MM in 2016 10 Developing a market for The Dow Chemical Company RECOGNITION AS A TOP EMPLOYER RECYCLED POLYOLS in DowDupont’s • 2017 Top Employer in 14 countries • JUST 100: America’s Best Corporate Citizens made from old mattresses 15% pro forma EBITDA1 Named by Top Employers Institute by Forbes Magazine to 1.2B • Earned top rating of 100 • Top 50 Employer by Women Engineer Magazine for 2017 Disability Equality Index • Top 50 Employer by Minority Engineer Magazine • Best Place to Work for LGBT Equality • Workforce 100 List of Top Companies for HR $120 MM by Human Rights Campaign by Workforce Magazine Value added to Dow in 2017 $800M Through the “Valuing Nature” DowDuPont annual run-rate 2025 Sustainability Goal savings by end of 2017, exceeding the target of 00MM (1) Operating earnings per share is defined as earnings per share excluding the impact of “Certain Items.”

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2025 Sustainability Goals Progress

In 2015, Dow announced a strategic set of commitments designed to redefine the role of business in society. These goals, the Company’s third set of sustainability-related goals since 1995, build upon its previous decade-long Our 2025 Sustainability Goals will commitments. Dow’s 2005 Environment, Health & Safety Goals resulted in $5 billion in safety, waste, water and energy savings from a $1 billion investment. help redefine the role of business at its Dow’s 2015 Sustainability Goals provided more sustainable products and intersection with society. They are our guide solutions addressing global challenges in food, energy, sustainable water as we work to improve the well-being of supplies and improved personal health. humanity with solutions that are good for Dow’s 2025 Sustainability Goals aim to expand the Company’s impact around business and good for the world. the world, driving unprecedented collaborations to develop societal blueprints that will facilitate the transition to a sustainable planet and society. To achieve Jim Fitterling, chief executive officer of Dow and these bold and aggressive sustainability targets, Dow is harnessing its chief operating officer of DowDuPont Materials innovation strengths, global reach and dedicated employee population. Science Division

In November 2017, Dow affirmed that its 2025 Sustainability Goals would continue to be the goals of the future Dow (see page 4 for discussion of the DowDuPont merger and plans for future Dow). Goal implementation leaders Sustainability is our reviewed and assessed metrics and targets associated with each goal, taking into account changes in global conditions over the past three years, as well as the scope and scale of the future Dow. Refreshed metrics and targets were rolled out to accelerate sustainability and the accomplishment of our 2025 commitment. Sustainability Goals.

2025 Sustainability Goals Dow’s Thought Leadership and Actions

This is how our employees 2015 Sustainability Goals Dow’s Blueprint Product Solutions to World Challenges Changes in technology, public policy and the value chain that lead human society toward sustainability 2005 EH&S Goals Dow’s Handprint Journey to EH&S Excellence make it happen. Products and services that help customers meet their challenges

Dow’s Footprint and EH&S Culture World-leading operations and supply chain performance

1995 2006 2016 2025

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2025 Sustainability Goal Team Updates Leading the Blueprint Delivering Breakthrough Innovations Leading the Blueprint Delivering Breakthrough Innovation Dow leads in developing societal blueprints Dow delivers breakthrough sustainable that integrate public policy solutions, science chemistry innovations that advance the well- The health of people, planet and business are intrinsically linked. Dow’s Delivering Breakthrough Innovation Goal is to “deliver and technology, and value chain innovation to being of humanity. Collaboration in new and deeper ways across the public and private breakthrough sustainable chemistry innovations that advance the facilitate the transition to a sustainable planet sectors is essential for the transition to a sustainable planet and well-being of humanity.” The core belief behind this goal is that and society. society. Dow seeks to lead in developing societal blueprints that collaborations of passionate and creative people at the intersections of integrate public policy solutions, science and technology, and value chain innovation to the sciences will solve world challenges. In addition, the design, manufacture and use facilitate that transition. Dow’s blueprints will align to the United Nations Sustainable of efficient, effective, safe and more environmentally benign products and processes Development Goals (SDGs) to ensure significance and relevance to solving societal will move us toward a more sustainable future. Dow products and processes again challenges and transitioning to a sustainable planet and society. The blueprints will were acknowledged in 2017 by awards recognizing sustainability, including the U.S. Advancing a Circular Economy Valuing Nature draw on the best practices of existing collaborations and, in partnership with the other Presidential Green Chemistry Award; six of our 10 R&D 100 awards for sustainability- Dow advances a circular economy by delivering Dow applies a business decision process that Dow 2025 goals and businesses, forge new collaborations for greater impact. related products; and an EPA Safer Choice Partner of the Year award. The goal uses solutions to close the resource loops in key values nature, which will deliver business value five targets to track progress. markets. and natural capital value through projects that In 2017, the goal team finalized a framework for blueprints, including defining criteria are good for business and better for ecosystems. to determine topics for blueprint development. Based on these criteria, a pipeline Business-specific goals are key to delivering breakthrough innovations. One-hundred of blueprint topics was defined, and working groups were assigned. The Watershed percent of the business units within Dow have sustainability goals. Each business unit Management blueprint was developed in 2017 and launched at the World Water has goals that are unique to them, reflecting their opportunities and challenges that go Forum in March 2018. beyond the specific targets of the corporate 2025 Sustainability Goals. These goals 2025 will help drive progress on our Delivering Breakthrough Innovation and all the 2025 Sustainability Goals. We continued to use the Sustainable Chemistry Goal Index to Safe Materials for a Sustainable Engaging for Impact: Communities, evaluate, track and improve business performance, and have published details on the Sustainability Goals Planet Employees, Customers method in the journal ACS Sustainable Chemistry & Engineering journal. In addition, the We envision a future where every material we Dow people worldwide directly apply their greenhouse gas benefits from use of products continues to exceed the burdens of the bring to market is sustainable for our people and passion and expertise to advance the well- Company by a factor of 3 (see page 98 for details). our planet. being of people and the planet.

The Blueprint for Sustainable Watershed Management is about sharing the story of Dow’s journey toward more sustainable water management, which centers World-Leading Operations Performance on the power of collaboration. In those collaborations, Dow maintains world-leading operations stakeholders can play multiple roles, from framing performance in natural resource efficiency, the initial collaboration, to being a key supporter for environment, health and safety. project execution – from a technical, financial or policy standpoint.

Matt Davis, President, Dow North America, and Senior Vice President, Global Public Affairs & Government Affairs The Dow Chemical Company dow.com/sustainability 14 2017 SUSTAINABILITY REPORT 15

Advancing a Circular Economy In Aratu, Brazil, the project team found an erosion academy in Africa completed EH&S assessment 2017 PROGRESS AGAINST 2025 SUSTAINABILITY GOALS Through innovation and collaboration, protection solution that incorporated the value of nature for all customers in Ghana, Kenya and Nigeria, as Dow will help facilitate the world’s and helped stabilized a slope with a natural engineered well as conducted initial trainings, assessed Dow It’s great to see this Dow team recognized transition to a circular economy, where technology that incorporated native plants. In 2009, sales in these regions for hazardous materials that for their innovation in the area of an area of Matarandiba Island was excavated, leaving will prioritize training needs, and engaged country LEADING THE BLUEPRINT waste and pollution are designed out predictive toxicology. They are making of new products and services. Our goal is to advance 24 meter-high slopes that were eroding and causing authorities as partners. The goal is to expand a circular economy by delivering solutions to close the safety hazards. In lieu of conventional solutions, such as the program to other regions through 2025 and significant progress on the development resource loops in key markets. removing the slopes or stabilizing them with concrete beyond to enable responsible and sustainable of practical frameworks that leverage and tie-back anchors, the team installed green gabion business growth that also ensures the safety of computational tools to inform chemical We will advance the circular economy through two walls, which include steel mesh and natural fiber filled humans and the environment. DELIVERING BREAKTHROUGH INNOVATIONS different types of business models: with rocks and embedded with native vegetation. In safety assessment. Such approaches are • Received a LAUNCH Chemistry Award for critical to the advancement of the science doing so, the team saved money and reduced the development of predictive safety assessment Enabling Circularity – Innovating products that enable amount of energy and materials required for the project. tools. A team from the Dow Cheminformatics of toxicology and are a core element of higher durability of goods, making products suitable for The result was less forest being removed, a lower sharing, and increasing energy efficiency. Group was selected as one of five LAUNCH: Dow’s 2025 Sustainability Goals. carbon footprint for project implementation, and a Smarter Chemistry Innovation Challenge green, living slope in place of a concrete wall. Darrell Boverhof, director of Dow’s Toxicology & ADVANCING A CIRCULAR ECONOMY Circulating Molecules – Maximizing the utility of Innovators. Together with the American Chemical Environmental Research and Consulting (TERC) Group existing molecules through recycle/reuse. Safe Materials for a Sustainable Planet Society Green Chemistry Institute, Estée Lauder, NIKE, Inc. and additional partner organizations, Achievements in 2017 included collaboration on a We envision a future where every 2025 LAUNCH put forward a call-to-action for material we bring to market is pilot project in Europe to develop a market for recycled innovators and companies to submit projects sustainable for our people and our VALUING NATURE polyols from end-of-life mattresses. Dow Packaging to make chemistry smarter by generating data, planet. In 2017, Dow refreshed what and Specialty Plastics also delivered the first certified making data more accessible, analyzing the data was previously known as the Increasing Confidence renewable low-density polyethylene to customers. or applying data in ways that move chemistry in Chemical Technology Goal to Safe Materials for a toward predictive design-based discovery. Valuing Nature Sustainable Planet. Significant progress was made Dow met this challenge with an award-winning in 2017 against the refreshed Safe Materials Goal, The Valuing Nature Goal team exceeded submission that highlighted our efforts to compile SAFE MATERIALS FOR A SUSTAINABLE PLANET including these accomplishments: its 2017 target by generating $120 large inventories of acute toxicity data for use in million in cost savings or new cash flow • We initiated our Product Stewardship Academy, predictive safety assessments and sustainable from projects that are good for business with outreach in Kenya, Nigeria and Ghana, chemistry development. This critical information and better for ecosystems. With $40 million in value to promote product safety. The Dow Product can be used to help inform safer, more sustainable generated in 2016, Dow has achieved a total of $160 Stewardship Academy is about recognizing chemistry selection during product development ENGAGING FOR IMPACT: COMMUNITIES, EMPLOYEES, CUSTOMERS million toward its goal of creating $1 billion by 2025 for the needs of emerging countries and growing and provide practical safe handling and use the Company by valuing nature in business decisions. sales responsibly. The program builds on Dow’s information. Dr. Dan Wilson, a science leader in Dow’s Computational Toxicology group, was invited The Valuing Nature team also conducted first-ever long-standing Product Stewardship program by to participate in the LAUNCH Circular Innovation business workshops within Dow to inspire and providing hands-on training as well as support and Summit hosted by Nike, where Dow and innovators educate employees to incorporate nature into decision- mentoring to distributors and customers to ensure WORLD-LEADING OPERATIONS PERFORMANCE and leaders from other sectors were recognized. making. The workshops are used to identify current that Dow products are handled and used in a safe and future opportunities for Valuing Nature projects. and sustainable manner. By the end of 2017, our

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Engaging for Impact World-Leading Operations Performance • Dow eliminated 30 Priority 1 health risks in 2017, exceeding its 2017 outgoing cellphone calls while driving, even if a hands-free system such ® Dow people around the world directly apply their passion and expertise Dow’s 2025 World-Leading Operations Performance Goal states: “We target of 25 reductions and bringing the total to 50 reductions since the as Bluetooth is used. This is consistent with widely available information to advance the well-being of people and the planet. The power of will maintain world-leading operations performance in natural resource launch of the 2025 Goals. Among the actions that Dow is taking to realize its that proves even the use of a hands-free cellphone is a significant Dow employees using their professional skills will enable sustainable efficiency, environment, health and safety.” In 2017, Dow developed Total Worker Health™ targets is the implementation of Life’s Simple 7 (LS7), distraction and results in a higher probability of being involved in an development one community at a time, all over the world. In 2017: four key indicators of World-Leading Operations: Unplanned Event a program created by the American Heart Association (AHA) to evaluate accident than when the phone is switched off or left in a bag or the trunk. Reduction, Total Worker Health™ Index, Environmental Stewardship employees’ health. LS7 measures seven health behaviors and risk factors • Dow is leading the industry in innovating new technologies to remove • More than 3,000 STEM Ambassadors supported more than 2,500 Index and Transportation Stewardship Index. Each indicator is built on several metrics. (physical activity, healthy eating, tobacco use, blood pressure, glucose, workers from higher-hazard activities in an effort to help achieve teachers and 700 projects – enhancing STEM opportunities for more than In 2017, we achieved or exceeded annual targets for each of the four indicators. total cholesterol and body mass index). In 2017, Dow achieved Gold level its 2025 target to “eliminate fatalities, reduce severe injury and illness 380,000 students. recognition in the AHA Workplace Health Achievement Index by scoring 175 incidents and maintain its total recordable injury and illness rate at out of a maximum 217 points. • The Dow Business Impact Fund provided nearly $1 million in support of six • Dow’s Texas City site is working on ways to reduce its energy industry-leading levels.” Examples include implementing robotic high- global projects. consumption. These efforts resulted in quick wins that led to a 10 percent • To meet its goal “to eliminate all preventable Motor Vehicle Accident pressure water cleaning, robotics to eliminate the need for confined reduction in equivalent tons of CO emitted. With the help of Dow’s Energy 2 space entry, drones to eliminate certain elevated work, and protection - Funds supported the Hefty® EnergyBag™ Program in the United States, Fatalities,” Dow will introduce telematics devices in all Company- Tech Center, an energy assessment also was performed, identifying a devices on aerial lifts. a clean water initiative in Ethiopia, flexible package recycling in Ghana, owned or leased vehicles by January 1, 2019. These devices will help portfolio of projects that have the potential to deliver even more energy to improve safety and skills by alerting the driver when the speed limit clean water for schools in India, a marine debris project in Indonesia, and savings. The project is an example of actions that Dow is taking to meet its recycled plastic bricks for low-cost, resilient housing in Colombia. in force is temporarily exceeded, when harsh acceleration, braking or 2025 target, which states: “Though we will grow globally over the next 10 cornering is observed or when a lane-handling deviation occurs. In 2017, years, Dow’s absolute greenhouse gas emissions will not exceed our 2006 • Dow invested $39.74 million in corporate and foundation contributions, Dow also banned employees and contractors from accepting incoming or baseline.” driving employee, customer and community engagement. - 2,300 community volunteer projects

- 15,000 volunteers reporting more than 150,000 hours of service

• Dow continued to evolve our skill-based volunteer programs through our fifth With the goal of reducing marine debris and advancing a circular economy, Dow is collaborating annual Leadership in Action and Global Health Corporate Champion with local governments and other stakeholders to help turn plastic waste into long-lasting roads programs. Nearly 50 employees were deployed to work on 10 projects with non-governmental organizations (NGOs) and universities in Vietnam in Asia Pacific. In India, Dow worked with the cities of Bangalore and Pune and waste collectors and Ghana. Projects addressed issues related to water quality and access, Turning Plastic Waste to bring together the people and materials needed for 40 kilometers of roads – diverting 100 environmental cleanup, education and career readiness. metric tons of waste from landfills. Volunteers picked up the plastic waste, which was taken to • The DowCorps Volunteer Portal, an online tool employees used to find and local recyclers that ground the material into small pieces. Those pieces were then sent to local track volunteer opportunities, launched. Into Roads asphalt plants and added into the asphalt mixture, resulting in roads that last two times longer • We announced a new dynamic partnership at the intersection of than traditional roads. In Indonesia, Dow worked with the government and various stakeholders sustainability, innovation and citizenship with the WE organization, launching We Are Innovators. This new campaign is designed to challenge educators to complete the first plastic road trial in Depok. Approximately 3.5 metric tons of plastic waste and students to apply chemistry and science to solve global challenges. material was mixed into asphalt to create a 1.8-kilometer-long road.

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Company Profile GRI 102-1, GRI 102-3, GRI 102-5 Location of Operations

The Dow Chemical Company, with global headquarters in Midland, The Company operates 178 manufacturing sites in 35 countries. Michigan, is a diversified, worldwide manufacturer and supplier Properties of Dow include facilities which, in the opinion of WHO WE ARE of products used primarily as raw materials in the manufacture of management, are suitable and adequate for their use and have customer products and services. sufficient capacity for the Company’s current needs and expected near- Profile & People term growth. GRI 102-4 On August 31, 2017, Dow and DuPont became subsidiaries of DowDuPont as a result of the merger between the two companies. Geographic Region Number of Sites (Reference page 4 for details about the merger and intended business separations). There are 100 shares of Dow common stock outstanding, U.S. and Canada 65 all of which are held by the parent company, DowDuPont. Europe, Middle East, and Africa 46 Asia Pacific 44 Latin America 23 OUR PEOPLE FUEL OUR SUCCESS

Dow is a company of innovators, built on our founder’s philosophy to “do it better.” The curiosity and creativity of our people fuel our growth and help solve complex global challenges. Together, we’re committed to using science and technology to help create an economy that works for everyone

– people and planet, as well as

business and industry. Manufacturing Sites Science & Technology Centers Commercial/Service Centers

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Sales by Product Group Financial Highlights GRI 201-1

In 2017, Dow delivered top- and bottom-line growth on robust consumer-led demand in core end markets where our segments hold leadership positions today. The Company also continued to advance our long-term growth projects – 25% most notably on the U.S. Gulf Coast, with the startup of the new world-scale ethylene, polyethylene and elastomers Packaging and facilities, as well as with our Sadara joint venture in the Middle East, which achieved full commercial operations for all Specialty Plastics 26 production units, with additional value-added products across these key chains and others including isocyanates, 2017 Overview propylene oxide/propylene glycol, polyols, amines and glycol ethers. In addition, our innovation engine delivered more than 2,500 new products in our target markets and won numerous awards. In 2017, Dow’s net sales were $55.5 14% Our confidence in the future, in large measure, comes from the energy and passion of our people. Their creativity and curiosity will help us to continue to anticipate and quickly adapt to change and maintain our leadership positions Polyurethanes billion, up 15 percent from $48.2 & CAV – connecting science to the marketplace and creating new opportunities to help our customers solve the world’s challenges. billion in 2016, primarily reflecting 9% increased local price and product Consumer 2017 Sales by Geographic Area Total Sales: $55,508 MM (dollars in millions) 12% Solutions Hydrocarbons mix, higher sales volume and the & Energy 2017 Taxes (payments to governments), United States EMEA Rest of World 8% $19,166 $16,393 $19,949 Millions of Dollars addition of Dow Corning’s silicones Crop Protection 411 300 business. The Company employed 5% Asia/Pacific Economic value generated, distributed and retained, dollars in 2017 2016 approximately 54,000 people at Electronics & Imaging 7% millions GRI 201-1 North America Coatings and Revenues $55,508 $48,158 Europe/Middle East/Africa December 31, 2017, down from Performance Monomers Operating costs $38,533 $32,623** Latin America approximately 56,000 at December 3% Wages/benefits $8,000 $7,427 31, 2016, primarily due to the Safety & Construction 7% Payments to providers of capital $1,216* $1,101*** 739 896 Industrial Solutions Payments to governments $2,346 $2,036 Company’s restructuring programs. Community investments $42 $42 411 300 GRI 102-7 3% Economic value retained $5,371 $4,929 Asia/Pacific Seed 1% * Includes $1,056 million paid to Dow’s parent company for funding of parent company dividends and share repurchases 2% 1% North America 1% 1% Corporate and ** This value is a change from what was reported in 2016 as $32,972MM. This amount reflects what was moved from Cost of sales, R&D and SG&A to a new line in the 2017 10-K for Transportation & 1% Energy Other Integration and separation costs. This occurred as a result of the Merger with DuPont, as certain reclassifications of prior period amounts for TDCC were made to improve comparability Europe/Middle East/Africa Advanced Polymers Construction Nutrition & Solutions with DowDuPont and to conform with the presentation presented for 2017. Chemicals Industrial Health Biosciences Latin America ***Restatement from what was reported in 2016 as $3213MM. The prior value reflected “Net interest expense” as reported in the 2016 Dow 10-K, which included expenses in addition to payments to providers of capital. The updated value is the sum of “interest expense and amortization of debt discount” and “capitalized interest”.

739 896 The Dow Chemical Company dow.com/sustainability 22 2017 SUSTAINABILITY REPORT 23

The Future Is… The World’s Best People, Dow’s efforts and commitment to creating a workplace regularly, which, respectively, is 28 and 29 percentage Information on Employees and Other Workers GRI 102-8 that fosters innovation, collaboration, inclusion, safety points higher than the survey benchmark. Working Together to Make a Difference and well-being for all Dow employees is reflected WORKFORCE REPRESENTATION – Male & Female by Geography through the 28 employer awards that Dow received in On average, there were 61.5 hours of training per Integrity, Respect for People and Protecting Our Planet 2017, including Top Employer and Great Place to Work employee in 2017. Leaders completed 2,623 are the values that make up the foundation of Dow’s achievements. leadership training sessions. Also, 3,750 new culture and guide our engagement with both internal employees participated in Great Start@Dow, an on- and external stakeholders. We keep sustainability at boarding development program critical to setting new the forefront of everything we do, from internal work Investing In Our Workforce employees up for success – immersing them in Dow’s processes, to how we treat people, to the products we Employee Learning and Development structure, culture and strategy. create. Dow’s employee experience inspires our people In 2016, Dow launched a global, cloud-based Learning to deliver sustainable solutions, business growth and an Average Training Hours Per Employee GRI 404-1 Management System (LMS) called Diamond Learning. optimal customer experience. This is an important element of “Enabling Growth” as 200 part of our strategic roadmap on People priorities.

Through Dow’s 2025 Sustainability Goals, we are 3,03 The system offers a simple, engaging user experience Male Female committed to protecting our planet by utilizing our 150 60 and integrates modern learning technology solutions Asia Pacific diverse and talented employees’ passion, creativity EMEAI and expertise to accomplish our Engaging for Impact such as Massive Open Online Content (MOOCs), social 47 10,14 100 Sustainability Goal. collaboration, mobile learning and much more. 1,0 ,73 2,719 Diamond Learning also supports Dow’s strategy of 39 121 Our world is changing at a pace never before seen. 50 North America providing learning that is simple, continuous and value- 89 To continue to compete and lead, we need to think 17 ,99 39 and act in new ways. A successful future for Dow and added. Our employees select and manage curriculum 24 our employees will be built on learning. With a strong that aligns with their core role responsibilities and 0 Admin Professional Tech Other continuous improvement and learning culture, and in personal development interests and the Company alignment with the Company’s focus on technology can ensure compliance with important safety training. Diamond Learning is improving our ability to make The difference in the training hour average among males and innovation, digital platforms are continuing to be and females in the Tech and Other categories is largely incorporated and expanded – beginning with a stronger learning more relevant and engaging as we continue to leverage more of the system’s capabilities. influenced by the distribution of gender by function digital hiring presence. Throughout an employee’s and role. Females in the Tech and Other categories career, the Company supports people in their personal 3,22 There are more than 40,000 courses available in are the majority in our support services functions and development through a mix of online and digital learning Diamond Learning. Dow creates internal learning roles, while males in these categories are the majority 1,23 platforms, on-the-job training and a series of leadership content and partners with external content providers in our plant-aligned functions and roles. The employees development academies. Employees are encouraged (such as Harvard ManageMentor, Skillsoft, Franklin working in the production facilities have a higher to invest in themselves, and the technologies we deliver Latin Covey, Ken Blanchard Company and Wilson Learning) to number of required training hours to ensure safe and enable employees to access resources in real time America ensure our employees have a diverse, rich and engaging effective operation of our plants. through mobile applications. learning experience. Our system and content are a Every Dow story starts with our people. Dow drives a catalyst to employee development, but our employees performance culture through continuous feedback, are at the core of our learning culture. According to Male Female feedforward, and frequent and diverse development the Gartner (formerly CEB) Learning Culture Survey 37,720 14,343 completed in 2017, 68 percent of Dow employees feel opportunities. We measure and benchmark culture and TOTAL employee engagement on an annual basis, and take accountable for contributing to the learning of others action on corporate priority areas for improvement. and 76 percent share their knowledge and expertise

The Dow Chemical Company dow.com/sustainability 24 8% 2017 SUSTAINABILITY REPORT 25 8% 31% 49%

38% 31%TECHNICAL PROESSIONALS49% ADMINISTRATIE 62% EMPLOYEES MANAGERS 38% TECHNICAL PROESSIONALS ADMINISTRATIE New Employee Hires and62% Employee Turnover8% GRI 401-1EMPLOYEES MANAGERS Percentage of total employees covered by collective bargaining agreements Programs for skills management and lifelong learning that support the encouraging continuous development feedback and dialogue, and reviewing progress 92% 31% 69% 49% 51% GRI 102-41 continued employability of employees and assist them in managing career on an on-going basis throughout the year. PM aligns with Dow’s overall Employee NEW EMPLOYEE HIRES – Male & Female by Job Category 38% 92% TECHNICAL69% PROESSIONALS51% ADMINISTRATIE endings GRI 404-2 Development strategy by building skills that promote change, aligning behaviors with 62% EMPLOYEES MANAGERS Approximately 29 percent of Dow’s workforce was covered by either formal collective 8% corporate strategies and ethical standards, and providing employees the opportunities 31% 49% bargaining agreements or works councils in 2017. Dow employees have access to materials that support the entire employee life cycle, to improve their performance and effectiveness. 38% 92%8% TECHNICAL69% PROESSIONALS51% ADMINISTRATIE with the wealth of resources available on Dow’s online people resource, My HR EMPLOYEES MANAGERS 62% 31% 49% Benefits provided to full-time employees that are not provided to temporary Connection. My HR Connection gives employees access to development resources, 38% Our PM cycle provides a structure to facilitate the alignment of expectations and goals, 38% TECHNICAL PROESSIONALS or part-time employees, by major operations GRI 401-2 ADMINISTRATIE EMPLOYEES online internal job postings and customized notifications based upon employee 62% 92% 15% 69% MANAGERS51% 38% the integration of ongoing coaching and feedback, and the summary of contributions – EUROPE 27% 28% 15% Regular full-time and less-than-full-time employees are provided a wide variety of preferences, compensation and benefit information, health and wellness programs, TECHNICAL PROESSIONALS ADMINISTRATIE including both “What” (core job, goals, impact) and “How” (behaviors/competencies). 28% 92% EMPLOYEES69% 27% MANAGERS51% benefits while only temporary employees are not eligible to receive these benefits. and career stage, including late-stage career planning. Employees take advantage of TECHNICAL PROESSIONALS 72% ADMINISTRATIE 38% EMPLOYEES MANAGERS Dow’s benefit plans are designed to build on the social security benefits provided in these offerings to develop their careers, enhance their employee experience and plan Setting clear, meaningful and challenging performance expectations along with 72% 62% 73% 15% 85% each country and, as a result, vary by country. In all significant Dow locations, we offer for career changes. 28% 62% 27% 73% providing regular coaching and feedback are critical leadership skills. Our leaders TECHNICAL85% PROESSIONALS ADMINISTRATIE 38% EMPLOYEES MANAGERS the following benefits to employees: In addition, Dow supports lifelong learning through specific skill building provided are encouraged to partner with their employees to identify their strengths as well as 72% 15% • Pension plans – either defined benefit or defined contribution plans through functions, externally licensed development tools and an internal talent review opportunities for development. This ongoing collaboration is one way we can engage 27% 28% 62% 73% 38% TECHNICAL85% PROESSIONALS ADMINISTRATIE process focused on differentiated development. our employees and drive Dow’s success. 15%EMPLOYEES MANAGERS • Medical plans – often including prescription drug coverage and dental 28% 72% 27% Examples of development resources and programs include: TECHNICAL PROESSIONALS • Life insurance ADMINISTRATIE The PM cycle concludes with an annual review. This discussion features recognition 62% EMPLOYEES MANAGERS73% LATIN AMERICA LATIN 23% 85% • Employee worksheets exploring personal and career values, preferences and 72% 14% • Disability protection for contributions and feedback on areas for development for the future. In preparation, 23% 36% orientations 25% 62% 14% 73% • Accident insurance leaders gather multi-rater feedback throughout the year to enhance the quality of the TECHNICAL85% PROESSIONALS ADMINISTRATIE 36% 25% EMPLOYEES MANAGERS • Forms and guidelines to prepare for employee career development discussions discussion and ensure multiple inputs to performance ratings. TECHNICAL PROESSIONALS ADMINISTRATIE • Paid vacation, holiday and leave programs 75% EMPLOYEES MANAGERS 77% 23% • Global Educational Assistance that supports employees in pursuing external 75% 14% 86% 64% • Business travel accident In 2017, 93 percent of employees were eligible to receive an Annual Performance 25% 77% 36% training/educational opportunities for career development 64% TECHNICAL86% PROESSIONALS • Stock purchase plan Review and have a performance rating in the system. There is no difference in ADMINISTRATIE EMPLOYEES 23% MANAGERS • Access to HR and retiree service call centers for personalized answers to HR 75% 14% eligibility by gender. There were 7 percent of employees that were ineligible including 77% 36% Return-to-work and retention rates after parental leave, by gender GRI 401-3 questions 25% students, interns, co-ops, those who were part of divestitures, specific joint ventures TECHNICAL86% PROESSIONALS64% ADMINISTRATIE23% NORTH AMERICA NORTH 14%EMPLOYEES MANAGERS Return from Leave Rates Number of Employees Female Male • Benefits counseling for employee retirement planning purposes and other Dow employees based on local contractual agreements. All employees 25% 75% 36% 77% TECHNICAL PROESSIONALS Total number of employees entitled to 56,071 27.1% 72.9% • Financial planning seminars for all employees are encouraged to have continuous development discussions and develop a plan for ADMINISTRATIE EMPLOYEES 4% 86% MANAGERS64% parental leave 75% 16% 46% • Employee Resource Groups that support a variety of development opportunities continued growth. On our annual engagement survey, we ask our global employee 77% 4% 34% Total number of employees who took parental 163 68.1% 31.9% population to self-report whether they have experienced a recent Annual Performance 16%TECHNICAL86% PROESSIONALS46% 64% • A Learning Management System for tailored learning curricula aligning to role ADMINISTRATIE leave 34% EMPLOYEES MANAGERS 66% TECHNICAL PROESSIONALS responsibilities and personal development Review and/or employee development discussion. This information is helpful for global ADMINISTRATIE EMPLOYEES MANAGERS Total number of employees returned to work 137 63.5% 36.5% 66% 4% Talent Management to understand and improve the effectiveness of our Performance 96% 16% 46% • Total health, nutrition and wellness centers and associated programs and 84% 54% Total number still w/ Dow as of 3/31/2018 98 40.8% 59.2% ASIA PACIFIC 34% counseling Culture. GRI 404-3 96% TECHNICAL84% PROESSIONALS54% ADMINISTRATIE (of those that returned) EMPLOYEES MANAGERS 66% 4% • Career transition assistance benefits including outplacement counseling 16% 46% Male Female 34% services 96%4% TECHNICAL84% PROESSIONALS54% ADMINISTRATIE EMPLOYEES MANAGERS Dow’s Global Parental Leave Policy is intended to provide greater flexibility and work- Administrative 76% 90% 66% 16% 46% 34% 24% life balance for mothers and fathers. Birthing parents have a minimum 12 weeks of Percentage of employees receiving regular performance and career Professionals & Managers 95% 94% TECHNICAL PROESSIONALS41% ADMINISTRATIE 19% 96% 24% EMPLOYEES84% MANAGERS54% paid leave and the non-birthing parent has two weeks of paid leave, which can be taken development reviews by gender GRI 404-3 30% 66% TECHNICAL PROESSIONALS41% Global Leaders & Executives 100% 100% ADMINISTRATIE 19% 70% EMPLOYEES MANAGERS during the 12 months following the birth of a child. Performance management (PM) strives to maximize the connection between employee 30% TECHNICAL PROESSIONALS

GLOBAL ADMINISTRATIE Technical 77% 76% 96% EMPLOYEES84% MANAGERS54% 70% 76% 24% development and organizational performance. Both leaders and employees together 81% 41% 76% 19% 59% play a key role in ensuring the effectiveness of PM by establishing SMART goals, 81% 30% TECHNICAL PROESSIONALS59% ADMINISTRATIE 70% EMPLOYEES MANAGERS 24% dow.com/sustainability The Dow Chemical Company 76% 19% 41%

30% TECHNICAL81% PROESSIONALS59% ADMINISTRATIE24% EMPLOYEES MANAGERS 70% 19% 41%

30% 76% TECHNICAL PROESSIONALS ADMINISTRATIE 70% EMPLOYEES81% MANAGERS59% 76% 81% 59% Minority 85% 78% 79% 76% 79% Non-MinorityMinority 85% 78% 79% 76% 79% Non-Minority

15% 22% 21% 24% 21% ADMINISTRATIE15% TECHNICAL22% PROESSIONALS21% GLOBAL LEADERS24% GLOBAL21% ADMINISTRATIEEMPLOYEES TECHNICAL PROESSIONALS MANAGERS GLOBAL EECUTIES LEADERS GLOBAL EMPLOYEES MANAGERS EECUTIES

Under 30 31% 32% 26% 29% Under 30 31% 32% 26% 66% 29% Between 30-50 66% Between 30-50 Over 50 56% 56% 62% 59% Over 50 26 56% 56% 62% 59% 2017 SUSTAINABILITY REPORT 27 34% 13% 12% 12% 34% 12% ADMINISTRATIE13% TECHNICAL12% PROESSIONALS12% GLOBAL LEADERS GLOBAL12% WORKFORCE REPRESENTATION NEW EMPLOYEE HIRESEMPLOYEES MANAGERS EECUTIES Diversity of governance bodies and employees GRI 405-1 ADMINISTRATIE TECHNICAL PROESSIONALS GLOBAL LEADERS GLOBAL Inclusion and Diversity EMPLOYEES MANAGERS EECUTIES U.S. Minority & Non-Minority by Job Category U.S. Minority & Non-Minority by Job Category The DowDuPont Board is comprised of 16 individuals (eight Dow’s global inclusion and diversity (I&D) is rooted in our culture and core values. We believe that a directors from the legacy Dow board and eight directors from the diverse and inclusive culture that values and embraces differences is key to our Company’s success. It legacy DuPont board) with diverse experience and credentials, Minority contributes to making Dow a great place to work, enhances our innovation and customer experience, selected for their acumen and ability to challenge and add value to 85% 78% 79% 76% 79% Non-Minority 80% 71% 67% 70% and strengthens our understanding of the communities we serve. It also is a contributor to sustainable management. Board members bring a depth of experience across 80% 71% 67% 70% business growth. a wide variety of industries. Each director has held significant leadership positions, providing the Company with unique insights 15% 22% 21% 24% 21% 20% 29% 33% 30% As we move toward launching the future Dow with the intended spin of the Materials Science Division in and fresh perspectives. ADMINISTRATIE TECHNICAL PROESSIONALS GLOBAL LEADERS GLOBAL ADMINISTRATIE20% TECHNICAL29% PROESSIONALS33% GLOBAL30% 2019, we are accelerating our actions and deepening our commitment to strengthening our inclusion EMPLOYEES MANAGERS EECUTIES ADMINISTRATIEEMPLOYEES TECHNICAL PROESSIONALS MANAGERS GLOBAL and diversity. In 2017, we appointed our first chief inclusion officer, Karen S. Carter, and implemented EMPLOYEES MANAGERS More information on DowDuPont’s corporate governance, including Minority Non-Minority a focused and holistic I&D strategy that is now part of Dow’s business strategy with a governance DowDuPont’s Corporate Governance Guidelines, Board Committee Age by Job Category Minority Non-Minority structure, key areas of focus and measures in place for an effective, sustainable strategy implementation charters and Code of Business Conduct, is available online at and sustained performance. Under 30 Age by Job Category www.dow-dupont.com. 31% 32% 26% 29% 5% 5% 3% 4% 66% Between 30-50 5% 5% 3% 4% Based on extensive external and internal research, the Office of Inclusion identified seven foundational Gender and Age Composition of Board of Directors Over 50 56% 56% 62% 59% 48% 51% 45% 48% pillars that encompass all dimensions of Dow’s business strategy. The pillars are: 48% 51% 45% 48% • Governance: Institutionalize an inclusive culture. Board of Directors 34% 13% 12% 12% 12% 47% 44% 52% 48% • Customers: Deliver an unparalleled customer experience. Female 19% ADMINISTRATIE TECHNICAL PROESSIONALS GLOBAL LEADERS GLOBAL 47% 44% 52% 48% GLOBAL Male 81% EMPLOYEES MANAGERS EECUTIES • Talent: Increase employee engagement and create an environment where everyone can thrive. ADMINISTRATIE TECHNICAL PROESSIONALS GLOBAL GLOBAL ADMINISTRATIE EMPLOYEESTECHNICAL PROESSIONALS MANAGERS GLOBAL • People leaders: Cultivate an inclusive culture. Under 30 0% Under 30 BetweenEMPLOYEES 30-50 MANAGERS Over 50 • Suppliers: Achieve top benchmark performance in supplier diversity. 30-50 0% Under 30 Between 30-50 Over 50 • Communities: Strengthen communities where we live, work and do business. Over 50 100% • Reputation: Establish a leadership position and be recognized as a great place to work. 80% 71% 67% 70% For other employee categories, please refer to disclosure 102-8. To *The workforce data are gathered through a centralized database containing all employee We have identified five areas in which we intend to deliver concrete, visible and meaningful results learn more about our Board, see disclosure 102-22, Composition of information. The employee data are updated by Human Resources and managers when globally by 2020: employee information changes occur. The data represent the global employee population as of the Highest Governance Body and Its Committees. 20% 29% 33% 30% December 31, 2017, and include all permanent, full-time and part-time employees. Temporary • Address diversity dimension gaps in employee perceptions of equal opportunity and valuing ADMINISTRATIE TECHNICAL PROESSIONALS GLOBAL employees, contractors and manual additions are excluded unless otherwise stated. diverse perspectives. EMPLOYEES MANAGERS Minority Non-Minority • Activate employee resource groups (ERGs) and align their strategies and actions with Dow’s business imperatives. • Accelerate our spend with diverse suppliers and achieve top benchmark performance.

5% 5% 3% 4% Inclusion and diversity is not a numbers • Advance representation globally and across multiple dimensions of diversity. game. It is about people. It is about • Achieve targeted premier recognition globally. 48% 51% 45% 48% behaviors. It is about actions. We will measure our progress through ERG engagement, workforce and leadership representation, supplier diversity, employee surveys and external recognition as a great place to work. Karen S. Carter, Dow Chief Inclusion Officer 47% 44% 52% 48% GLOBAL ADMINISTRATIE TECHNICAL PROESSIONALS GLOBAL EMPLOYEES MANAGERS The DowUnder Chemical 30 Company Between 30-50 Over 50 dow.com/sustainability 28 2017 SUSTAINABILITY REPORT 29

Ratio of basic salary and remuneration of women Pay differences were attributable to the legitimate to men by employee category, by significant factors listed above and not to gender or ethnicity. locations of operation GRI 405-2 These results demonstrate that pay equity existed In 2017, in partnership with the Erb Institute of the University of Michigan, Dow launched the Sustainability Academy. across Dow after 2016 increases and that global pay- The Sustainability Academy is a development program that provides Dow employees with the tools needed to bring Compensation Equity planning guidelines are being applied appropriately sustainability business insights into their jobs as well as give them hands-on experience on a sustainability related across Dow. project. Global pay equity studies have been conducted at Dow 517 188 517 188 517 188 517 188 120 over the last 20 years120 in order to assess fair treatment As a continued commitment to pay equity, Dow signed 120 “Increasingly, employees want a sense of pride and fulfillment120120 from their work, and they want to work for a company and ensure our pay practices are523 being implemented the White House Equal Pay Pledge in June 2016. With 523 523 whose values match their own,” said Sustainability Academy creator523523 and leader Erica Ocampo. “The Academy helps our appropriately. These studies are updated biannually. Our improvements to our technology platforms, Dow is employees unlock that potential and develop with purpose.” next pay equity study is scheduled to take place in 2018. making strides to develop more frequent pay equity In July 2017, the first cohort started with 35 employees in North America who were selected to the Academy. They analyses and expand the scope to include promotions, 10,145 3,603 10,145 3,603 10,145 3,603 10,145 3,603 The most recent10,025 analysis was conducted3,080 during 2016, 10,025 3,080 10,025 3,080 spent four days on the campus of the University10,025 of Michigan, learning3,080 fundamentals of sustainability from various hiring and other activities. 10,2 3,791 10,025 3,080 following global pay planning activities. The impact 10,2 3,791 10,2university professors,3,791 building sustainability acumen and knowledge from these experts.10,2 Afterward, the employees3,791 10,14 3,03 10,14 3,03 10,14 3,03 10,1410,14 3,033,03 of gender on pay decisions is examined globally, Ratio of the annual total compensation for the split into teams, were given a sustainability project aligned with a Dow 2025 Sustainability Goal – oftentimes projects 246 and the impact of ethnicity is examined in the United 246 246 246 2 organization’s highest-paid individual in each 2 120 2 517proposed by various188 Dow business units – and then matched with Dow 2sustainability2 subject matter experts. Teams 181 181 181 181 States. Dow’s three components of compensation are country of significant operations to the median 523 were given six months to complete the project and solve the sustainability challenge. At the end of the six 181months, the analyzed (base pay, performance award and long- annual total compensation for all employees teams presented their projects and solutions to an open audience that includes leaders such as Chief Sustainability term incentives). The studies examine any impact to GRI 102-38 Officer Neil Hawkins. These projects yielded real, lasting business impact. pay differences that cannot be explained by legitimate In August 2015, the Securities Exchange Commission factors (e.g., performance ratings, job level, education, 3,522 1,238 3,522 1,238 3,522The successful 1,238creation and deployment of the Sustainability Academy is another outstanding3,522 collaboration1,238 between 3,522 10,025 3,080 3,522 1,238 3,522 1,236 (SEC) adopted a rule under the Dodd-Frank Wall Street 1,236 3,522 1,236 10,145 3,603 3,5223,522 1,2361,236 years of service, time since promotion, age and/or 3,7 1,419 3,7 1,419 3,7the Erb Institute1,419 of the University of Michigan. And each Academy participant is awarded3,7 an externally validated1,419 Reform and Consumer Protection Act of 2010 requiring3,22 1,23 10,14 3,03 10,2 3,791 3,7 1,419 3,22 1,23 3,22 1,23 certification upon program completion from the3,223,22 University of Michigan.1,231,23 geography). annual disclosure of the ratio of the median annual total 531 320 531 320 Dow’s Sustainability Academy Helps Dow 531 320 531 320 compensation for all employees other than the CEO to 13120 115 517 188 2 246 The 2016 pay equity13 study found no significant115 13 115 As of March 2018, the second cohort of the Academy1313 is well underway, 115and115 the third cohort is scheduled to kick off difference in base pay, performance award or long-term the annual total compensation of the CEO. The rule (Item 523 in July 2018. Additionally,181 as the program gains strength in North America, a team of the second cohort is working to incentives between genders or between U.S. minorities 402(u) of Regulation S-K) requires disclosure of this Employees Develop with Purpose expand the program to the other regions of the world. and non-minorities. information starting with the first fiscal year beginning on or after January 1, 2017. 18,055 6,783 18,055 6,783 18,055 6,783 18,055 6,783 10,025 3,080 18,055 6,783 18,042 6,668 10,145 3,603 3,522 1,236 3,522 1,238 18,042 6,668 Information18,042 on Employees and6,668 Other Workers GRI 102-8 1, 7,103 18,042 6,668 18,042 6,668 1, 7,103 1, 7,103 1, 7,103 1,010,14 ,733,03 10,2 3,791 3,22 1,23 3,7 1,419 WORKFORCE1,0 REPRESENTATION,73 - Full Time and Part Time by Geography 1,0 ,73 1,01,0 ,73,73

1 6 1 6 11 16 1 6 1 6 120 51711 18816 2 246 13 115 53111 32016 1 6 11 16 523 181

5,9973,522 2,713 5,998 2,719 5,997 2,713

EUROPE 5,997 2,713 5,99710,025 2,7133,080 10,1455,998 2,7193,603 1,236 3,522 1,238 18,042 6,668 18,0555,998 6,7832,719 5,997 2,713 5,998 2,719

,9910,14 2,7193,03 ,009 2,73 ,993,22 2,7191,23 ,0093,7 2,731,419 ,991,0 2,719,73 ,009 2,73 ASIA PACIFIC ,99,99 2,7192,719 ,009 2,73 10,2 3,791 AMERICA LATIN 1, 7,103 ,009 2,73 NORTH AMERICA NORTH Full Time Part Time Full Time Part Time Permanent Temporary Permanent Temporary Full1 Time Part Time 6 Permanent Temporary FullFull Time TimePart Part Time Time Permanent Temporary 2 13 115 531 320 Permanent Temporary 246 11 16 181 The Dow Chemical Company dow.com/sustainability

5,997 2,713 3,522 1,236 3,522 18,042 6,668 18,055 6,783 1,238 5,998 2,719 3,22 1,23 1,0 ,73 1, 7,103 ,99 2,719 3,7 1,419 ,009 2,73 Full Time Part Time 1 6 13 115 Permanent Temporary 531 320 11 16

5,997 2,713 18,042 6,668 18,055 6,783 5,998 2,719 ,99 2,719 1,0 ,73 1, 7,103 ,009 2,73 Full Time Part Time 1 6 Permanent Temporary 11 16

5,997 2,713 ,99 2,719 5,998 2,719 ,009 2,73 Full Time Part Time Permanent Temporary 30 2017 SUSTAINABILITY REPORT 31

Employee Turnover To determine the median annual total compensation for all employees other than However, the compensation of the CEO disclosed in the Summary Compensation Table is reflective of only that Dow Global Employee Opinion and Action Survey the CEO, a median employee was identified from the population of all employees compensation earned as CEO of DowDuPont and does not reflect the value of all compensation earned by the (GEOAS) Voluntary EU LA NA PA Global worldwide as of October 31, 2017. As is permitted under SEC rules, DowDuPont CEO during 2017. If the compensation in the Summary Compensation Table were to include the value of all such Attrition utilized base pay and annual incentive at target – rather than Summary Compensation compensation earned during 2017, the ratio of CEO pay to median employee pay would have been 387:1. Female 3.8% 5.0% 3.9% 4.8% 4.1% Table compensation – to determine the median employee. DowDuPont calculated People in my work Male 3.3% 3.2% 4.0% 4.1% 3.7% annual base pay based on a reasonable estimate of hours worked during 2017 for The pay ratio presented above is a reasonable estimate. Because the SEC rules for identifying the median area are protected employee and calculating the pay ratio allow companies to use different methodologies, exemptions, estimates and from health and 94% Total 3.5% 3.7% 3.9% 4.4% 3.9% hourly workers, and upon salary levels for the remaining employees. DowDuPont assumptions, the pay ratio may not be comparable to the pay ratio reported by other companies. safety hazards. FAVORABLE 0-1 Years of 4.6% 5.3% 6.0% 9.7% 6.2% used a valid statistical sampling methodology to identify employees who DowDuPont Top Quartile (2017 GEOAS) Service expected to be paid within a .05 percent range of the median. DowDuPont selected an Ratio of percentage increase in annual total compensation for the organization’s highest-paid individual 2-3 7.9% 4.0% 5.8% 6.8% 6.2% employee from that group as the median employee for purposes of preparing the ratio in each country of significant operations to the median percentage increase in annual total compensation 4-5 4.7% 5.7% 3.8% 5.9% 4.4% of CEO pay to median employee pay. DowDuPont then calculated the compensation for all employees GRI 102-39 I am held for the median employee based upon the same components of compensation used to 6-10 3.2% 6.6% 3.7% 3.7% 3.5% Dow’s annual total compensation is evaluated on a role specific basis. Each employee is paid on a market-competitive accountable for determine the CEO’s pay for purposes of Summary Compensation Table disclosure in 11-15 1.2% 1.1% 2.6% 1.2% 1.8% basis. In the interest of confidentiality and competitiveness, Dow does not report ratios based on individual doing my work in 98% the DowDuPont 2018 Proxy Statement. Based upon the calculation of compensation 16+ 2.9% 4.2% 3.4% 2.8% 3.2% compensation, or make pay decisions based on these ratios. See GRI 102-36 for a full description of the process for a safe manner. FAVORABLE for both the CEO and the median employee, the ratio of CEO pay to median employee No External Benchmark (2017 GEOAS) determining remuneration at Dow. pay is 175:1.

Involuntary EU LA NA PA Global Attrition Total 3.8% 14.8% 3.2% 5.2% 5.6%

Combining on-the-job training with classroom instruction, Dow’s U.S. Apprenticeship Program Voluntary Attrition by Age Group Involuntary Attrition is helping to build the workforce of tomorrow – and the Company’s global competitiveness – by Under 30 6.8% Female 5.4% increasing the pipeline of highly skilled technical workers to support and grow manufacturing. One 30-50 2.9% Male 5.7% of the greatest challenges facing the manufacturing industry today is a shortage of candidates Above 50 4.5% Total 5.6% Building a Pipeline of *Involuntary attrition includes the impact of divestitures with the technical skills necessary to qualify for key roles now available. Building on 40 years of Manufacturing Talent successful apprenticeship programs in Europe, the fully paid U.S. Apprenticeship Program offers three-plus years of training and on-the-job experience in STEM-related career pathways. Since its 2015 launch, the program has grown to more than 100 apprentices at seven sites across four states – Michigan, California, Texas and Louisiana – with plans for expansion. In 2017, the program received U.S. Department of Labor Registration, and participants receive an industry-issued, 28 nationally recognized credential that certifies occupational proficiency.

The Dow Chemical Company dow.com/sustainability 32 2017 SUSTAINABILITY REPORT 33

Dow Taps an Experienced Business Leader as First Chief Inclusion Officer

In 2017, Dow announced that Karen S. Carter was named the Company’s first chief inclusion officer – a role created to strengthen the integration of inclusion and diversity with business strategy and results.

Carter, who has a long history as a proven business leader at Dow, is leading efforts to foster an inclusive and diverse workforce.

“Karen brings a strong international business background and diverse perspective to this new position,” said Dow Chief Executive Officer Jim Fitterling. “Through her focus and leadership, we will continue to build an atmosphere where employees of all backgrounds can come together to fulfill their own personal and professional goals and work together to help the Company succeed.”

Carter has more than 20 years’ experience at Dow. She has held several strategic business leadership roles across Dow’s Packaging & Specialty Plastics, Building and Construction, and Polypropylene Licensing and Catalyst businesses. Most recently, she held the role as North American commercial vice president for Dow Packaging & TOP EMPLOYER BEST COMPANIES TOP 50 EMPLOYER Specialty Plastics with responsibility for the overall profit and loss for the business’s North America region. UNITED STATES OF AMERICA FOR LEADERS by Women Engineer Magazine by Top Employers Institute Among Carter’s goals are to raise the profile of Dow’s Employee Resource Groups in contributing insights to the I’m very proud of the women and men by Chief Executive Magazine Company’s business strategies and to bring more diversity into leadership roles. At the same time, Carter emphasizes behind these technologies, who continue to JUST 100: that inclusion and diversity isn’t a program or initiative – it is how we work at Dow. For that reason, another key area innovate to bring value to our shareholders BEST PLACES BEST PLACES TO WORK AMERICAN BEST CORPORATE CITIZENS of focus is to address gaps in equal opportunity and valuing diverse perspectives that have been identified in Dow’s by orbes Magazine and address the world’s greatest challenges. TO INTERVIEW FOR LGBT EQUALITY global employee survey. by Glassdoor by Human Right Campaign TOP SCORE “Ultimately, our goal is to drive sustainable progress toward ensuring every employee is fully empowered and valued. A.N. Sreeram, Dow senior vice president, Research and 100 ON DISABILITY EQUALITY INDEX In an increasingly global world, we need a culture even more welcoming of diversity of thought and opinions so that we Development, and chief technology officer TOP EMPLOYER TOP 50 EMPLOYER by .S. Business Leadership Network can meet the ever-growing and increasingly complex challenges of this generation and ones to follow,” Carter said. and American Association of People EUROPE by Minority Engineer Magazine with Disabilities by Top Employers Institute For Carter, the subject of inclusion and diversity is a personal one. She was only a sophomore in college when she first came to Dow’s Midland, Michigan, headquarters to work as an intern.

At the time, she couldn’t help but notice that she didn’t see many people who looked like her. However, later in her career, encouragement from a mentor helped her believe she could succeed. The mentor took her into Dow’s executive wing, sat her in the CEO’s seat, and said: “You belong here.”

Those words have become a mantra for her. She continues to embrace them as she moves forward in her latest role and to share these words with employees – to focus less on how they might be different and more on how they can make a difference.

“I’m proud to play a role in Dow’s inclusion and diversity efforts. Dow has long had a commitment to diversity and inclusion that has informed our strategies and helped fuel our success. It’s a privilege to build on that success with a fully conceived strategy that is woven into the Company’s overall business strategy,” Carter said.

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Values, Principles, Standards and Norms of us at Dow, no matter where we happen to live, are expected to apply these principles in the daily performance of our job responsibilities. Behavior GRI 102-16 Dow’s policy is to be lawful, highly principled and socially responsible in all of its business activities. Dow expects employees to understand and With more than 95 percent of manufactured products enabled by comply with all Company policies and applicable laws, and to adhere chemistry, world challenges will ultimately be solved by companies to the guiding principles outlined in the Code. Employees must certify such as Dow, who collaborate with customers, industries, governments, compliance with the Code annually. academia and civil society. Our innovation engine is focused on water purification, crop productivity, building efficiency, development and In December 2010, a new Code was approved by Dow’s Board of WHY WE DO IT commercialization of carbon mitigation, alternative energy and many Directors. The Code has been translated into 24 languages. A review of more solutions that improve lives while protecting the planet. We are the Code is underway; a refreshed version is expected to be issued in Global Challenges & Our Commitments as committed to minimizing our own footprint as we are to delivering early 2019. technology that helps the rest of society do the same. Our commitment to sustainability is integral to Dow’s Vision, Mission and Values – which More information about ethics and compliance at Dow can be found A COMMITMENT TO DO WELL continue to drive change that is good for the environment, good for on our website. Winning in today’s volatile, global marketplace requires people and good for business. sound strategy and disciplined execution. Building on our strengths, AND DO GOOD we continue to accelerate our market-driven approach – going Taken together, the essential elements of Dow’s Mission, Vision, Values narrower and deeper into strategically aligned end markets, increasing In 2030, the world’s population will reach and Strategy describe why the Company exists, who we are, what productivity across our integrated value chains, and maximizing the we intend to do, and how we intend to do it. This critical framework 8.3 billion, placing increasing demands value of our investments. provides insight, offers motivation and determines our path forward as on the Earth’s finite resources. To help we seek to grow and achieve our goals. In September 1998, Dow established its Office of Ethics and Compliance (OEC) to reinforce the Company’s long-standing lead the transition to a sustainable The Diamond Standard, Dow’s Code of Business Conduct (“Dow’s commitment to ethical business conduct. The OEC communicates the planet, Dow is doing what we do best: Code” and “Code”), summarizes the ethical principles and policies Company’s standards, provides guidance on issues related to ethical intended to deter and prevent corrupt activity such as bribery; outlines conduct, and has oversight for mechanisms for action. Staff in this innovating, adapting and collaborating. appropriate political contributions; and provides Dow’s position on critical area are responsible for administering the Code and promoting We want to lead by example and work equal employment opportunity, environment, health and safety. All of practices that maintain an environment in which the Company’s with others to address global challenges, helping advance solutions for energy, infrastructure and food waste, among other global challenges. By embedding Mission: Vision: Corporate Strategy: Values: sustainability into our business strategy To passionately create To be the most valuable and Invest in a market-driven portfolio of • Integrity innovation for our stakeholders respected science company advantaged and technology-enabled • Respect for People and innovation engine, we seek to create at the intersection of chemistry, in the world businesses that create value for our • Protecting Our Planet biology and physics shareholders and customers a better company and a better world.

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businesses and workforce are in full compliance The chief ethics and compliance officer is responsible callers may remain anonymous. In addition to the OEC, 343 of which warranted an investigation. Two- with the Code, accepted business practices, and for communicating to all stakeholders the mechanisms EthicsLine, employees may choose to report concerns hundred and thirty-two (54 percent) of the 433 matters WHAT THE CHEMICAL internal standards. This includes promoting lawful that are in place for employees to seek advice and to their supervisors or other leaders, Dow attorneys, were substantiated; 129 (30 percent) matters were activity everywhere we do business as well as helping report potential misconduct. These options are Human Resources personnel, Regional Ethics and unsubstantiated; and the remaining 72 (16 percent) are Collab, the organization to manage risk, maintain a positive communicated in many ways, including on Dow’s Compliance Committee members or directly to the pending. Types of issues reported included conflicts INDUSTRY CAN DO: reputation and avoid litigation. As the leader of Dow’s external website and intranet page, on the OEC’s OEC. All concerns are evaluated, and all potential of interest; environmental, health, and safety; human Inn Global Ethics & Compliance function, the chief ethics ethics and compliance training website, in the Code violations are investigated. Confidentiality resources; misuse of assets and others. All issues that and compliance officer is expected to stay abreast of Respect and Responsibility Policy, and other training is essential in order to maintain the integrity of the require corrective action are appropriately addressed. d Sce e the Company’s business goals and cultural climate as communications. Dow EthicsLine is a safe, reliable and investigation process. Dow takes seriously its policy GRI 102‑17 well as facilitate sound and ethical business dealings convenient alternative to reporting ethical concerns against retaliation, which provides that Dow will not Solu through education and the establishment of practices in person (by calling or via online form). It is available tolerate retaliation against those who raise concerns Climate Change Water that enable the highest possible level of compliance. globally, with multilingual capabilities, 24 hours a day, about improper conduct in good faith or who participate Provide solutions in Reduce water scarcity with new seven days a week. The Dow EthicsLine is operated truthfully in an investigation. transportation and mobility treatments Dow’s Code sets the ethical standard for Dow and its by EthicsPoint, a professional vendor located in Lake Develop and use renewable Develop technologies to improve

employees. Dow employees are expected to report Oswego, Oregon, USA, that specializes in providing Reports and other data about alleged violations of the and clean energy sources water availability, water quality, potential violations of the Code for investigation and similar services to global companies. No call tracing/ Code, its underlying policies or the law are provided Find smarter ways to use cost and energy efficiency action; contingent staff and other third parties are also tracking of IP addresses or recording device is ever to the Audit Committee of the Dow Advisory Board energy Turn wasterwater into a valuable encouraged to report ostensibly inappropriate conduct. used, and in some countries, as allowed by local law, quarterly. In 2017, 433 matters were reported to the Increase emissions control resource through advanced reclamation processes 95% of the world’s Food manufactured goods are  Offer technologies for healthier diets created from chemistry  Provide technologies to prevent food loss and Bicyclists in São Paulo and Rio de Janeiro know that using bikes instead of cars is food waste

better for the environment. What they may not know is that the coating on the bike  Increase crop yields lanes they’re using also is more sustainable. Combining the durability of acrylics In the U.S., for every one with the chemical resistance of epoxies, MAINCOTE™ AEH Resin is a novel hybrid Waste job created from the Provide solutions to prevent and reduce waste technology for two-component concrete coatings that offers ultra-low VOC capability The Science Behind Collaborate to improve waste management business of chemistry, while accelerating dry time. The result is a bike lane that is durable and safe for infrastructure  bikers, not causing them to slip when wet. The carbon footprint also is lower than a More Sustainable Advance a circular economy other technologies, including solvent-borne acrylics as demonstrated by a Life Cycle Bike Path Assessment. During the project execution, the Dow team worked with local agencies in Consumer Goods 6 Develop effective biotechnology that help jobs are created Brazil to influence regulations and public policies in hopes of helping create a mindset treat the population’s evolving needs in other sectors that encourages the use of bikes when possible – saving emissions caused by cars. Increase the safety, durability and service life of products Offer technologies that help support an active lifestyle

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weigh them against other options and measure impact The results of the materiality assessment are mapped out below. The vertical axis maps the relative importance of the topics to our stakeholders; the horizontal axis shows the Determination of Report Content and Boundaries GRI 102-46 over time. Life Cycle Assessment (LCA) is an excellent significance of Dow’s economic, environmental and social impacts. Our process for determining materiality is a continual four-step cycle of identification, prioritization, validation and methodology for examining the total impact of a review. Defining our material topics and boundaries for reporting relies on the continuous process that we have used product or service. Rather than focusing on a single to develop three generations of corporate Sustainability Goals. The process assures that we are addressing material process, LCA takes a holistic view, examining impacts topics, and that our Sustainability Goals are aligned with external concepts of sustainability and global challenges. over the complete “cradle to grave” life cycle. A life MATERIALITY OF SUSTAINABILITY TOPICS It also assures that we have considered the full scope of the impacts caused by our activities, both within our own cycle perspective helps us prioritize material aspects Economic & Social Performance Environmental Stewardship Connecting with external and internal stakeholders helps Dow identify operations and externally through interactions with suppliers, customers, consumers, communities, the environment according to their impact, given the sustainability and appropriately manage the economic, social and environmental issues Ethics & Governance Dow People/Global Workforce and others. context and the influence on stakeholder assessments and decisions. Dow applies life cycle thinking across the that can potentially impact the Company’s ability to create value over time. Economic Performance Identification entire portfolio. A critical element in the development of the 2025 Sustainability Goals was extensive dialogue with stakeholders on Emissions Validation a wide range of topics, which later became the key components of the goals. In 2013, we developed a first draft of Occupational Health and Safety the goals using a “bottom-up” approach with a number of functional experts and resources within the Company. We In 2014, as part of building Dow’s 2025 Sustainability also conducted an extensive stakeholder and corporate interview process to identify the issues that are the most Goals, a series of scenario-based probabilistic analyses Environmental Compliance important to our stakeholders and most relevant for Dow. More than 300 one-on-one and small group interviews was performed to evaluate the direct/indirect value, Water Customer Health and Safety were conducted across the globe with stakeholders, including individuals from non-governmental organizations, intangible value, and externality value (those borne

academia and governments as well as from the environmental and sustainability communities. Key customers, by society) of Dow’s sustainability activities. The Effluents consumer-facing companies and Community Advisory Panels (CAPs) were also interviewed. More than 500 approach is an extension of a method that was originally Local and Waste Communities telephone interviews were conducted to understand and prioritize environmental, social and economic needs in developed by Dow and several other companies, as well Employment the communities in which Dow has significant operations. Further, individual conversations were conducted with as the American Institute of Chemical Engineers (AIChE). Sustainability External Advisory Council (SEAC) members, senior leadership and employees in focus groups. Robust Sustainable Energy analytics and text mining were applied to analyze the extensive data collected through the interview process to Chemistry assess the importance of issues to stakeholders and to the Company, which resulted in validation and prioritization of

the topics. Diversity and Equal Materials Opportunity Impact on Stakeholders’ Decisions on Stakeholders’ Impact One of the external stakeholders was the SEAC, who since 1992 has been a key contributor to Dow’s outside-in perspective on environment, health and safety, and sustainability issues for the Company. The SEAC played a critical role in developing our 2005 EH&S Goals, 2015 Sustainability Goals and 2025 Sustainability Goals.

In addition, part of our stakeholder engagement is through our annual Public Policy Issues Prioritization process. Through the Government Affairs, Public Policy, Regulatory Affairs and Issue Management teams, Dow’s Issue & Policy Management Council drives alignment of global issues and policy management strategies, setting priorities, and coordinating efforts and resources.

Prioritization By extending the reach of our scope outside our operations, we understand that each action taken to address the material issues will have broader and long-term impact upstream and downstream of the value chain, which often can be beyond the Company’s direct control. However, to truly understand the pros or cons of our decisions, we Significance of Dow’s Economic, Environmental and Social Impacts

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Our 2025 goals are well aligned to address the sustainability topics determined to be material. GRI 102-47 Alignment of Dow 2025 Goals with UN SDGs Key Impacts, Risks and Opportunities GRI 102-15, 102-29, 102-30

Dow’s impact through the products we produce is far- reaching. The Company’s research and development Broad Consultation Sustainable Chemistry Delivering Advancing Safe Materials Engaging for World-Leading efforts are essential to Company growth and future • ••••• ••••• ••••• • Leading the Valuing Breakthrough a Circular for a Sustainable Impact: Communities, Operations Blueprint Nature success. The Company is engaged in a continuous Economic Performance ••••• ••••• ••••• • ••••• ••••• Innovations Economy Planet Employees, Customers Performance • Analysis of internal and industry program of basic and applied research to develop Materials • • • • • ••••• standards, public policy • •• new products and processes, to improve and refine Energy ••••• ••••• • ••••• • • existing products and processes, and to develop Water ••••• • • ••••• ••••• • Interviews with specialists • •• • new applications for existing products. Research and development (R&D) expenses were $1.637 billion in Emissions • ••••• • • More than 500 telephone interviews • 2017. At December 31, 2017, the Company employed Effluents and Waste ••••• ••••• ••••• • • approximately 6,800 people in R&D activities. Our Environmental Compliance ••••• • • Customers • • • industry-leading development engine is continuing Material Topics Material • Employment ••••• • to produce products each year that enable growth • Community Advisory Panels • • of the Company and solve world challenges. Dow’s Occupational Health and Safety ••••• ••••• • •• commercial teams align the Company’s capabilities Diversity and Equal Opportunity • • • SEAC members •• • • with opportunities in the marketplace, including those Local Communities • • • • ••••• • • that enable solving the sustainability challenges of • Employee focus groups •• • customers and consumers. Customer Health and Safety • • • ••••• • • • •• • Engaging • Senior leadership Delivering Advancing Safe Materials for Impact: World-Leading Refer to the Corporate Citizenship section starting on ••••• = Direct Connection Between Topic & Goal Leading the • • • Breakthrough a Circular Valuing Nature for a Sustainable Communities, Operations Blueprint page 107 for details about the Company’s impact on • = Less Significant Connection Between Topic & Goal Innovations Economy Planet Employees, Performance • •• • Customers • • • • communities where we have operations. • Risk management is considered to be a strategic activity The analyses show that Dow’s sustainability activities price on carbon in the United States, Dow is one of the Review • within Dow and our ability to manage risk creates will bring significant benefits to Dow from growing pioneer companies incorporating a carbon price into its After having prioritized the material issues, the process opportunity as well. Corporate-level identification and top-line and bottom-line value by improving reputation, business planning and risk management strategies. The at Dow becomes not only a process to decide the management of risk is systematically accomplished increasing human capital return and improving price of carbon is included in the Company’s internal content of Dow’s sustainability report, but also an using an Enterprise Risk Management approach. The resilience. The analyses also show that many external calculations used for prioritizing capital projects. important element for the Company to continually Board of Directors is responsible for overseeing the stakeholders will receive mutual benefits from Dow’s Another example is the results of the collaboration incorporate sustainability into its strategy and leverage overall risk management process. Committees of the sustainability activities, such as reducing environmental between Dow and The Nature Conservancy (TNC) on existing resources for sustainable value creation. Board and the Board as a whole participate in the impacts, increasing ecosystem value and improving life valuing ecosystem services, which is demonstrating that oversight of the process. The Audit Committee ensures quality. protecting nature can be both a global business strategy there is a risk management process and it is being and a Company priority. By combining the resources and followed. Responsibility for managing risk rests with For example, as highlighted by the Carbon Disclosure expertise of two organizations, we are integrating the executive management. Examples include the potential Project (CDP), despite having no federal regulatory value of nature into Dow’s business decision-making. impact of weather-related events, access to credit,

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effect of foreign currency exchange rate movements, and volatility in purchased feedstock and energy costs. Risk volume, which could have a negative impact on Dow’s Conversely, when feedstock and energy costs decline, selling prices generally decline management results are regularly communicated to the chief financial officer with a formal annual review with the results of operations. as well. As a result, volatility in these costs could impact the Company’s results of Board of Directors and the Audit Committee. operations. In addition, volatility and disruption of financial markets Global Economic Considerations: The Company operates in a global, competitive environment, which gives rise could limit customers’ ability to obtain adequate The Company has a number of investments in the U.S. Gulf Coast to take advantage of to operating and market risk exposure. The Company sells its broad range of products and services in a competitive, financing to maintain operations, which could result increasing supplies of low-cost natural gas and GHLs derived from shale gas. These global environment and competes worldwide for sales on the basis of product quality, price, technology and in a decrease in sales volume and have a negative include the restart of the St. Charles Operations (SCO-2) ethylene production facility customer service. Increased levels of competition could result in lower prices or lower sales volume, which could impact on Dow’s results of operations. The Company’s in December 2012; construction of a new on-purpose propylene production facility, have a negative impact on the Company’s results of operations. Sales of the Company’s products are also subject to global business operations also give rise to market which commenced operations in December 2015; completion of a major maintenance extensive federal, state, local and foreign laws and regulations, trade agreements, import and export controls and risk exposure related to changes in foreign exchange turnaround in December 2016 at an ethylene production facility in Plaquemine, duties and tariffs. The imposition of additional regulations, controls, duties and tariffs, or changes to bilateral and rates, interest rates, commodity prices and other Louisiana, which included expanding the facility’s ethylene production capacity by up regional trade agreements could result in lower sales volume, which could negatively impact the Company’s results of market factors such as equity prices. To manage such to 250 kilotonnes per annum (KTA) and modifications to enable full ethane cracking operations. risks, Dow enters into hedging transactions pursuant flexibility; and construction of a new world-scale ethylene production facility in Freeport, to established guidelines and policies. If Dow fails to Texas, which commenced operations in the third quarter of 2017, as well as a capacity Economic conditions around the world, and in certain industries in which the Company does business, also impact effectively manage such risks, it could have a negative expansion project that will bring the facility’s total ethylene capacity to 2,000 KTA. As sales price and volume. As a result, market uncertainty or an economic downturn in the geographic regions or impact on the Company’s results of operations. a result of these investments, the Company’s exposure to purchased ethylene and industries in which Dow sells its products could reduce demand for these products and result in decreased sales propylene is expected to decline, offset by increased exposure to ethane- and propane- Raw Materials: Availability of purchased feedstocks based feedstocks. and energy, and the volatility of these costs, impact MATERIALS SCIENCE DIVISION: INNOVATION THAT DRIVES COMMERCIAL VALUE Dow’s operating costs and add variability to earnings. While the Company expects abundant and cost-advantaged supplies of natural gas Purchased feedstock and energy costs account for a liquids (NGLs) in the United States to persist for the foreseeable future, if NGLs were regulatory requirements and depend on the timing of the BUILDING BLOCKS CAPABILITIES SOLUTIONS substantial portion of the Company’s total production to become significantly less advantaged than crude oil-based feedstocks, it could have a negative impact on the promulgation and enforcement of specific standards that impose the requirements. Moreover, changes in World-Class Science and costs and operating expenses. The Company purchases Company’s results of operations and future investments. Also, if the Company’s key suppliers of feedstocks and Advanced Back-Integration Narrower, Deeper End-Market Presence Engineering Capabilities hydrocarbon raw materials including ethane, propane, energy are unable to provide the raw materials required for production, it could have a negative impact on the environmental regulations could inhibit or interrupt the Company’s operations, or require modifications High-Throughput Research butane, naphtha and condensate as feedstocks. The Company’s results of operations. Packaging Company also purchases certain monomers, primarily to its facilities. Accordingly, environmental, health or Ethylene Catalyst Discovery ethylene and propylene, to supplement internal Environmental Compliance: The costs of complying with evolving regulatory requirements could negatively impact safety regulatory matters could result in significant & Ligand Synthesis Industrial & production, as well as other raw materials. The Company the Company’s financial results. Actual or alleged violations of environmental laws or permit requirements could result unanticipated costs or liabilities. Infrastructure in restrictions or prohibitions on plant operations, substantial civil or criminal sanctions, as well as the assessment of Polymer Science purchases natural gas, primarily to generate electricity, Health and Safety: Increased concerns regarding the and purchases electric power to supplement internal strict liability and/or joint and several liability. Materials Science Consumer safe use of chemicals in commerce and their potential generation. Propylene The Company is subject to extensive federal, state, local and foreign laws, regulations, rules and ordinances relating impact on the environment as well as perceived impacts Formulation Expertise Feedstock and energy costs generally follow price to pollution, protection of the environment, greenhouse gas emissions, and the generation, storage, handling, of plant biotechnology on health and the environment Process Engineering trends in crude oil and natural gas, which are sometimes transportation, treatment, disposal and remediation of hazardous substances and waste materials. At December 31, have resulted in more restrictive regulations and could volatile. While the Company uses its feedstock flexibility 2017, the Company had accrued obligations of $878 million ($909 million at December 31, 2016) for probable lead to new regulations. High-Performance environmental remediation and restoration costs, including $152 million ($151 million at December 31, 2016) for Silicones Computer Modeling and financial and physical hedging programs to help the remediation of Superfund sites. This is management’s best estimate of the costs for remediation and restoration Concerns regarding the safe use of chemicals in mitigate feedstock cost increases, the Company is commerce and their potential impact on health and Application Development with respect to environmental matters for which the Company has accrued liabilities, although it is reasonably not always able to immediately raise selling prices. the environment and the perceived impacts of plant Ultimately, the ability to pass on underlying cost possible that the ultimate cost with respect to these particular matters could range up to approximately two times Product Safety biotechnology on health and the environment reflect increases is dependent on market conditions. that amount. Costs and capital expenditures relating to environmental, health or safety matters are subject to evolving

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a growing trend in societal demands for increasing levels of product safety and Major hurricanes have caused significant disruption in Dow’s operations on the environmental protection. These concerns could manifest themselves in stockholder U.S. Gulf Coast, logistics across the region, and the supply of certain raw materials, proposals, preferred purchasing, delays or failures in obtaining or retaining regulatory which had an adverse impact on volume and cost for some of Dow’s products. Due approvals, delayed product launches, lack of market acceptance and continued to the Company’s substantial presence on the U.S. Gulf Coast, similar severe weather pressure for more stringent regulatory intervention and litigation. These concerns conditions or other natural phenomena in the future could negatively impact Dow’s Hot Air Pollution Mitigation Carbon Cap Carbon Tax could also influence public perceptions, the viability or continued sales of certain results of operations. • World energy grows at historic rate • China: aggressive coal reduction • Temp increase below 2° C • U.S. implements a $40/ton CO products, the Company’s reputation and the cost to comply with regulations. In 2 and with the same fuel mix and NG growth wellhead tax addition, terrorist attacks and natural disasters have increased concerns about the Additional risk factors with less relevance to the Company’s sustainability activities, • Global cap on carbon emissions security and safety of chemical production and distribution. These concerns could including financial commitments and credit markets, supply/demand balance, • Temp increase of 6° C above pre- • Less polluting fossil fuels in • Digital and technological • Import tariff retaliation from EU – cyber threat, company strategy, pension and other post-retirement benefits, and the industrial levels residential and transportation innovation China

have a negative impact on the Company’s results of operations. Description DowDuPont merger are listed in the 2017 10-K. • Global policies fractured Local, state, federal and foreign governments continue to propose new regulations related to the security of chemical plant locations and the transportation of hazardous Climate Change GRI 201-2 Other Hydro Other chemicals, which could result in higher operating costs. 2% Hydro Other Hydro Renewables Biomass Hydro Other Renewables 5% Renewables 4% Renewables 3% Governance 3% 11% 12% 4% Biomass Operational Event: A significant operations event could negatively impact the 6% 10% At Dow, the Executive Sustainability Team is appointed by the Dow Board of Directors Nuclear Biomass 4% Company’s results of operations. As a diversified chemical manufacturing company, & Waste Nuclear to identify material sustainability risks and opportunities, including climate-related 11% the Company’s operations, the transportation of products, cyber-attacks, severe Oil Oil Biomass 9% issues, and reports to the Board every quarter. The Executive Sustainability Team also 28% 25% 20% Oil Nuclear Oil 29 % weather conditions and other natural phenomena (such as drought, hurricanes, 21% monitors the progress made on the Company’s 2025 Sustainability Goals, which Natural Gas 5% Nuclear earthquakes, tsunamis, floods, etc.) could result in an unplanned event that could be 24% Natural include the following climate-related goals: Coal 11% Gas 2040 Fuel Mix 2040 Fuel significant in scale and could negatively impact operation, neighbors or the public at Coal Natural Gas 22% Coal Natural Coal 23% large, which could have a negative impact on the Company’s results of operations. • Dow will obtain 750 MW of its power demand from renewable sources 28% 26% 12% Gas 22% by 2025. 20% • Though we will grow globally over the next 10 years, Dow’s absolute Demand: 840 PJ Demand: 840 PJ Demand: 620 PJ Demand: 790 PJ greenhouse gas emissions will not exceed our 2006 baseline.

To help meet our goals, a working group is in charge of analyzing the various climate Energy Demand 40% 40% 10% 33% change scenarios and developing strategies, in conjunction with the Executive Growth Sustainability Team, for the Energy business to deploy. In 2017, the Dow Energy & Climate Change business completed an updated scenario planning study to develop plans to mitigate costs and capitalize on opportunities over the next 10 years. Four boundary scenarios were considered, and the profitability impacts to Dow were Sources for fuel mix: evaluated at a high level. This scenario-based approach is used widely used across • Hot Air: International Energy Agency, Energy Technology Perspectives 2015 - www.iea.org/etp2015 - 6D Scenario. industries (i.e., EIA, CERA, Wood Mackenzie, BHP, etc.). • Pollution Mitigation: Dow analysis. • Carbon tax: MIT Joint Program on the Science and Policy of Global Change • Carbon Cap: International Energy Agency, Energy Technology Perspectives 2015 - www.iea.org/etp2015 - 2D Scenario.

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Strategy Risk Management Physical Climate Parameters: Many scientific academies throughout the world have Climate Adaptation Market: A large part of our product portfolio helps address Dow’s Energy & Climate Change business and Public Affairs and Sustainability Climate change matters for Dow are likely to be driven by changes in regulations, concluded it is very likely that human activities are contributing to global warming. At global challenges including food availability; energy supply; climate change and energy functions are tasked with developing and implementing a comprehensive strategy public policy and physical climate parameters. this point, it is difficult to predict and assess the probability of potential risks related to efficiency; water availability and quality; nature, natural capital, ecosystem services and that addresses the potential challenges of energy security and greenhouse gas (GHG) a global warming trend on Dow specifically. Concerns have been raised that climate biodiversity; and human health. Regulatory Matters: Regulatory matters include cap-and-trade schemes; tighter change may result in more frequent incidents of severe weather and the potential for emissions for the Company. The Company continues to elevate its internal focus and Dow innovations are already at work improving people’s lives around the world – external positions to identify and address the root causes of GHG emissions, including limits on GHG emissions; and taxes on GHG emissions, fuel and energy. The potential rising sea levels. In the past, major hurricanes have caused significant disruption in implications of these issues are all very similar, including increased cost of purchased making clothes fresher, foods healthier, water cleaner, medicines more effective and the unsustainable use of energy. Dow’s energy plan provides the roadmap: our operations on the U.S. Gulf Coast, logistics across the region and the supply of energy, additional capital costs for installation or modification of GHG-emitting certain raw materials, which had an adverse impact on volume and cost for some of homes more energy-efficient. And that’s just the beginning of our growing portfolio of • Conserve – aggressively pursue energy efficiency and conservation equipment, and additional direct costs (such as cap-and-trade systems or carbon Dow’s products. Due to our substantial presence on the U.S. Gulf Coast, similar severe solutions. As part of our 2025 Sustainability Goals, Dow will maintain GHG emissions • Accelerate – develop cost-effective, clean, renewable and alternative taxes) associated with GHG emissions, which are primarily related to energy use. It is weather in the future could negatively affect our results on operations. Hurricanes below 2006 levels on an absolute basis for all GHGs. But the widespread impact difficult to estimate the potential impact of these regulatory matters on energy prices. energy sources Gustav and Ike, which hit the U.S. Gulf Coast in 2008, caused temporary outages for of climate change extends well beyond energy production. It creates huge markets for Dow’s products and solutions. Through our science and technology capabilities, • Optimize – increase and diversify energy resources Reducing Dow’s overall energy usage and GHG emissions through new and unfolding several of the Company’s Gulf Coast production facilities, resulting in $181 million in additional operating expenses. More recently, Hurricane Harvey, which hit the U.S. we are committed to bringing solutions to enable a sustainable energy future by • Transition – to a sustainable energy future projects will decrease the potential impact of these regulatory matters. Dow also has a dedicated commercial group to handle energy contracts and purchases, including Gulf Coast in August and September 2017, caused widespread temporary logistics producing products that help others reduce GHG emissions. For example, compared The risk matrix below is an overview of the identified climate-related risks and managing emissions trading. The Company has not experienced any material impact and supply chain disruptions as well as brief outages and slowdown of production to current best-in class water purification membranes, our 2015 Sustainability Goal opportunities and their potential financial impact on Dow, over the short, medium and related to regulated GHG emissions to date, but continues to evaluate and monitor this rates for some of the Company’s Gulf Coast facilities. To mitigate risks associated “Breakthrough to World Challenges” product, FILMTEC™ ECO Membrane Modules long term. area for future developments. with severe weather, we have engineered the facilities to better withstand these filter out 40 percent more salt from water, while consuming 30 percent less energy events. Additionally, these sites have specific emergency preparedness plans that than industry standard reverse osmosis elements. In the building and infrastructure Potential impacts on business Potential financial impacts Potential opportunities detail actions to take in the event of severe weather. Historically, these activities and sector, Dow’s building insulation materials and airsealing products can save up to 20 associated costs are driven by normal operational preparedness. Dow continues to percent on heating and cooling costs and significantly reduce GHG emissions. study the long-term implications of changing climate parameters on water availability, The Company’s STYROFOAM™ insulation is installed in more than 20 million buildings Type Climate-related risks Horizon plant-siting issues, and impacts and opportunities for products. worldwide, saving greater than $10 billion in energy costs annually. DOWTHERM™ A Although we may face risks associated with climate change, opportunities also arise. heat transfer fluids are used in 35 large, concentrating solar power plants, with a total capacity of more than 700 megawatts. These plants will provide enough electrical

Inability to do business to Inability in production Disruption and shipment capacity and reputational Fines damages operating Increased costs assets of write-off Early demand for Reduced products Revenues Expenditures Assets/liabilities Capital effiicient More processes production business Diversify activity new of Emergence technologies adaptation Climate product markets solutions emission and Lower of sources renewable energy in carbon Participating market diversification Resource Despite having no federal regulatory price on carbon in the U.S., Dow is one of the generation capacity to meet the needs of more than 1 million homes at a savings of Policy and legal pioneer companies incorporating a carbon price into its business planning and risk Increased pricing of GHG emissions > n n n n n n n n management strategies. The price of carbon is included in the Company’s internal close to 4 million metric tons of carbon dioxide emissions per year. Enhanced emissions reporting obligations > n n n Exposure to litigation > n n n n n calculations used for prioritizing capital projects. In addition, it also offers opportunities Technology to develop solutions for climate adaptation. Substitution of existing products with lower emission options > n n n n n n n Markets

Transitional Changing customer behavior > > n n n n n Uncertainty in market signals > > n n n n n Reputation Shift in consumer preferences > > n n n n n n n n Stigmatization of sector > n n n n n n n Acute Tropical cyclones > n n n n n n n Change in precipitation extremes/droughts > n n n n n Chronic

Physical Change in precipitation pattern > > > n n n n n Rising sea level > > > n n n n n n Rising mean temperature > > > n n n n n

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In September 2017, Dow and the IOC announced Between 2017 and 2020, Dow will develop and implement projects in various Dow as the Official Carbon Partner of the IOC. This countries across different sectors of the market. Aided by Dow’s science and IOC Dow announcement is another step in a long journey of technology, these projects will be tailored to country-specific needs and will mitigate Dow Climate support by Dow for the Olympics. greenhouse gas (GHG) emissions in areas such as infrastructure, transportation, Sustainability Strategy Solutions Framework 2025 Sustainability Goals packaging and manufacturing, for which Dow has proven solutions. • Leading the Blueprint Olympics Partnership: Combining Through Dow’s appointment as the Official Carbon Mitigation projects • Delivering Breakthrough Carbon Innovations Partner of the Olympic Winter Games Sochi 2014 In close collaboration with the IOC, Dow will work with multiple players – businesses, Neutrality Goal and the Olympic Games Rio 2016, Dow has already governments, communities and non-governmental organizations (NGOs) – to evaluate the Power of Sport and Science Net positive impact delivered to date third-party verified greenhouse technologies and support implementation of economically viable projects that can of Dow solutions Initial owned gas reductions amounting to 3.10 million tonnes of deliver significant climate benefits and maximize positive impacts within the program footprint Reduced footprint for a More Sustainable Future carbon dioxide equivalent. By 2026, the reductions are time frame. Working within the Dow Climate Solutions Framework, each project will Local needs Local and solutions Dow’s science science Dow’s Verified projected to exceed 4 million tonnes of CO2e. Beyond provide GHG reductions and help drive the adoption of low-carbon innovations where and partnerships climate benefits to balance IOC’s Assessment and Reduction operational balancing the carbon footprint of the Olympic Games, implemented. Climate benefits will be monitored through 2026 and verified by third- reporting of measures footprint the program evolved in Rio to have a much broader party experts. carbon footprint impact in terms of ongoing adoption of energy-efficient This innovative partnership uses the platform of sport and the Olympic brand to and low-carbon technologies across major sectors of Balancing of footprint the Brazilian and greater Latin American economies. demonstrate how science and technology can help the transition to a lower-carbon Raised awareness society and offers an exceptional opportunity to collaborate with industry leaders to Legacy and societal benefits Upgraded technology base about climate change Now as the Official Carbon Partner of the IOC, Dow introduce solutions that will benefit generations to come. is taking the carbon mitigation program beyond the Games, beyond the venues and beyond the host cities The Dow-IOC Carbon Partnership represents a new type of sustainability collaboration to engage its customers, partners, stakeholders and supporting Dow’s 2025 Sustainability Leading the Blueprint Goal. Through this other business communities around the world in joining innovative partnership, Dow is working with customers and expert partners across the IOC and Dow in our quest to provide a blueprint for the globe to understand local market environments and identify opportunities to a new type of climate collaboration. This collaboration increase awareness and adoption of energy-efficient and low-carbon technologies. calls on the industry to make different decisions In addition to leading the program implementation, Dow is also offering life-cycle along its value chain and stretches its capabilities expertise, technologies, application expertise and market access to support the and imagination for the benefit of positive action and carbon mitigation program. The goal is to raise awareness and provide education on innovation. this important topic, alter existing business operations and create sustainable legacies. At a Glance: As the Official Carbon Partner of the IOC, Dow is The United Nations (UN) General Assembly recognizes how all sectors of society, >35 YEARS including sport and business, play an important role in supporting its 2030 Agenda OF SUPPORT leveraging the Olympic brand to drive engagement and implement a series of impactful mitigation for Sustainable Development and the 17 Sustainable Development Goals (SDGs). projects around the world. In alignment with the IOC Both Dow’s 2025 Sustainability Goals and the IOC Sustainability Strategy reflect each organization’s commitment to contribute to the 2030 Agenda for Sustainable Official Chemistry Company Official Carbon artnerP Helped Mitigate the Created a Legacy of Low- Sustainability Strategy, the projects will balance the of the Olympic Games of the International Sochi 2014 Carbon Footprint Carbon, Energy-Efficient IOC’s operational carbon footprint while demonstrating Development and closely align to a number of SDGs, including partnerships for Supplier to the Games Since 2010 Olympic Committee Before the Games Began Technologies in Latin America sustainability (SDG #17) and climate action (SDG #13). Since 1980 environmental leadership on a global level.

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Stakeholder Engagement List of Stakeholder Groups Advocacy and Advisory Groups Topics discussed with the SEAC in 2017 include: Customer and Retailers Dow is a member of The Sustainability Consortium, an Stakeholder analysis helps identify and evaluate Stakeholder engagement takes place in a variety of The Sustainability External Advisory Council (SEAC) • Progress toward meeting 2025 Sustainability Goals stakeholders that can and do impact or influence other ways throughout the year. The fundamental has represented a wide variety of external stakeholders independent organization of diverse global participants the Company’s strategy and reputation as well as principles of Dow’s ongoing sustainability stakeholder since its initial meeting in 1992. The SEAC provides for • Review of Consumer Solutions business strategy, innovation portfolio and issues management working to design and implement credible, transparent contributes to identification of material risks and engagement strategy focus on three areas: (1) open and structured dialogue between Dow’s senior strategy and scalable science-based measurement and opportunities. GRI 102-29 The intentional effort information sharing and disclosure; (2) participating leaders and independent external thought leaders • Digitalization and sustainability trends reporting systems accessible for all producers and is to identify stakeholders who can drive, block or in active dialogue; and (3) collaborating on issues of on issues of critical importance to society and the users of consumer products. Through The Consortium, • Interactive discussion between SEAC and customers on sustainability trends in the marketplace shape the discourse around sustainability. In addition, mutual interest. The overall purpose of engagement is to Company. The SEAC challenges the way the Company Dow works collaboratively with its customers and the value chain to develop approaches to providing more those who are affected may then influence how this advance the most appropriate business objectives while thinks, helping to frame important challenges and Communities GRI 413-1, GRI 413-2 discourse ultimately impacts Dow. Through keeping building Dow’s reputation. opportunities in a creative, solutions-oriented way. sustainable solutions for the whole supply chain and Community Advisory Panels (CAPs): Dow has been an industry leader in establishing and using CAPs in the ultimately, the end consumer. Dow leverages its science up with current perspectives, more successful issues Member selection for SEAC is based on the potential to communities where we have operations. With sites in 35 countries, Dow has a daily presence in small towns and and technology expertise in sustainable chemistry and management and government affairs efforts are Some examples of intentional and purposeful listening challenge conventional thinking and press the case for cities around the world as a neighbor, community leader, employer and manufacturer. Understanding the needs global network while working alongside The Consortium’s accomplished helping to avoid negative impacts for the to stakeholders occur through the following: adopting proactive and impactful positions on important of the communities where Dow has locations, and responding in a constructive and appropriate way, is part of our various private- and public-sector partners. Company’s businesses. issues. role as a member of the community and one to which we are deeply committed. At Dow, we believe our decision- making processes are improved when we involve the community. Dow’s CAPs represent a broad cross-section of Employees and Job Candidates Stakeholder Engagement GRI 102-40, GRI 102-42, GRI 102-43, GRI 102-44 local interests, including healthcare, education, civic engagement, law enforcement and local business. The CAPs Attracting and retaining world-class talent is the key Stakeholder Groups Mechanism for Engagement Typical Frequency Key Topics of Interest operate in more than 38 of our global manufacturing communities for the purpose of engaging in ongoing and open to maintaining Dow’s competitive advantage. We Advocacy and Advisory Groups. (e.g., Meetings, email communications Monthly Progress on Dow’s 2025 Sustainability Goals, advice on how to address communication regarding Dow’s operations, safety programs, environmental conditions, community interactions, constantly strive to maintain a culture where each Sustainablity External Advisory Council) sustainability issues; site production performance and employment trends; and other aspects of the Company and plant. employee is valued, respected and encouraged to grow environmental impacts, community health impacts and needs, etc. in their careers. In order to continue accelerating Dow’s Communities (e.g., Community Advisory Meetings, social media Monthly Site financials, shipments and employment trends; environmental impacts, Feedback from CAPs enables Dow to be responsive in addressing a community’s quality of life needs, especially in transformation, we must empower one another to act Panels, United Way, Habitat for Humanity, community health impacts and needs, etc. areas where the Company can have the greatest impact. Dow continually refreshes its CAPs to maximize value for as agents for positive change within our Company. This Keep America Beautiful) both Dow and the community. Many Dow CAPs regularly reinvigorate their processes. To find new ways to expand is why we are committed to regularly conducting global Customers/Retailers (e.g., The Events, meetings, emails, surveys, social Daily Market trends, technology needs, opportunities, requirements their reach, CAP members also engage other community residents by inviting them to Dow-hosted events. This survey programs among our employees, and tracking Sustainability Consortium) media results in greater feedback by residents and more awareness building about Dow within the community. and planning actions against measures of the Company Employees Surveys, emails, Global Employee Opinion Daily Company's strategy, Dow’s 2025 Sustainability Goals progress, engagement culture. and Action Survey, Employee Resource Dow also measures its impact as a corporate citizen and identifies concerns through periodic community Groups, Sustainability Network assessment surveys at select sites. These surveys generate feedback related to quality of life issues, identifies Dow’s global survey program has existed since 1995 and utilizes an annual survey called the Global Investment Professionals Calls, emails, media, meetings Daily Market trends, Company's financial performance, risk management Dow’s “rightful role” in a community and also provides direct recommendations on identified opportunities where Dow can have a positive impact. We address these and many more issues through our local site Community Success Employee Opinion and Action Survey (GEOAS). The Industry and Trade Associations/ Meetings, emails, conferences Monthly Key industry issues, opportunities, collaborations and partnership opportunities GEOAS is designed to measure employee satisfaction, Consortiums (see GRI 102-13) Plans. commitment and engagement via questions about Academia Panels, meetings, research projects, Monthly Research, Dow’s 2025 Sustainability Goals progress, opportunities, workforce the job, development, leadership, work environment, internships, social media, awards development communications and more. The GEOAS survey is Shareholders Meetings, mail, media Monthly Company's financial performance, risk management currently implemented by a third-party vendor, CEB, with NGOs and Think Tanks (e.g., The Nature Visits, meetings, emails, calls, social media Monthly Industry issues, opportunities, collaboration and partnership opportunities. whom Dow has partnered since the beginning of the Conservancy, Ocean Conservancy) GEOAS in the 1990s. GEOAS results are key inputs into Regulators Meetings, emails, calls Monthly Company's environmental and social impacts the Corporate and HR strategy and provide the primary Suppliers Calls, emails, surveys Daily Value chain insights, limitations, opportunities metric of performance results.

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The survey is administered globally to all employees In addition to the critical metric of employee of Dow, with minimal parameters around eligibility. engagement, the 2017 GEOAS was again paired with a Specifically, any employee who is full time, not on a Leadership Effectiveness Survey (LES). The LES allowed leave of absence, and has been with Dow for at least employees to provide confidential feedback on their three months is eligible. This includes bargained-for supervisors and the areas where they can develop to employees. Survey confidentiality is also protected, and better lead and engage. Employees are encouraged the governance behind confidentiality is reviewed each to think about recent interactions with their leaders, year with legal counsel and European Works Council call attention to their strengths, and provide candid, representation. constructive feedback on specific opportunities for development. The Leadership Development Guide and The intent of the survey program is to provide a tracking Leadership Effectiveness Feedback Report provide mechanism, which enables the Company to focus leaders with insight into where they are in their journey on priority actions that will increase engagement toward superior leadership. Together, they offer ideas on in the workforce and ultimately improve corporate the areas to focus on as they work to build relationships performance. External research shows that higher and enhance their interactions with individuals on their scores on engagement lead to more positive team to motivate, engage and lead them to success. organizational outcomes (e.g., performance, productivity Dow connects leaders with specific development and retention). Organizations with highly engaged resources as part of the LES feedback process. In 2017, employees achieve greater total shareholder return scores on the survey were also realigned to simplify the (TSR). reporting model; items now roll up to dimensions that are one-for-one with Company values and leadership The 76 percent global response rate achieved on the expectations. survey demonstrates the value employees place on Employee Resource Groups providing their feedback to Dow. Employee feedback Finally, in 2017, new action planning resources were Eight employee resource groups (ERGs) – each with a senior executive sponsor – bring together people with a from the 2017 GEOAS showed that, on the whole, developed and launched for people leaders and their common interest to share experiences, find mentors, seek professional development, and gain access to senior survey results were down from the previous year. This HR business partners. These resources were aligned to leadership. result is consistent even after taking into consideration themes of items that fit well together and helped leaders • African American Network the effects of removing the Dow AgroSciences to zero in on more focused areas of improvement. These • Asian Diversity Network and Electronic Materials business divisions from resources will evolve in 2018 to become more robust. • Disability Employee Network participation. Feedback shows employees’ desire for continued focus on improving overall career • Gays, Lesbians & Allies at Dow development, appreciation and recognition, and work- • Hispanic Latin Network related stress. We continue to maintain emphasis on • Middle East Intercultural Network employee appreciation and career planning. In addition, • Women’s Innovation Network our Health Services team has carefully examined the • Veteran’s Network data to pinpoint the root causes of work-related stress and develop interventions to eliminate or reduce it. The ERGs serve as an internal resource to help cultivate a multicultural competency within Dow, as the groups Since 2013, we have measured gradual improvements partner with businesses and functions to develop people and influence culture, engage employees for impact on in each of the focus areas. sustainability goals, and work collaboratively to maximize local and national inclusion and diversity partnerships.

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The ERGs also serve as critical links to career development resources and Academia projects that are better for nature. Much of the focus of the Dow and TNC collaboration Another challenge is to define what a nature project is, and how it is different from opportunities through an inclusive community highlighted by respect, collaboration, In alignment with Dow’s 2015 Sustainability Goals, the Sustainability Innovation continues to be identifying new types of projects that fit the Nature Goal framework, sustainability or efficiency projects. The collaboration team’s re-evaluation of the and open and honest communication. The groups offer mentoring and networking Student Challenge Award (SISCA) program was launched in 2009. To promote forward while scaling previously identified projects. scorecard is intended to address this confusion. As the collaboration moves toward opportunities and provide access to professional development. All employees are engaging other companies in the Nature Goal, it will be helpful to strengthen the thinking in social and environmental responsibility, SISCA acknowledges the energy, The Ecosystem Services Identification and Inventory (ESII) tool, which was developed eligible to join any of the networks as early in their career as they choose. commitment and enthusiasm of the students and their university professors, sponsors collaboration’s own communication as to how this engagement helps TNC and Dow. by TNC and Dow in the first phase, continues to gain momentum as companies seek As this is one of the core goals of the collaboration, we are looking to identify additional Candidates are increasingly behaving like consumers when choosing an employer. As and facilitators who support their sustainability innovations and efforts in continued to identify projects that are good for nature. This year, Dow had discussions with more excellence. benefits that can be quantified, reported and potentially tied to Dow’s internal metrics. a result, companies are adjusting how they source and engage with talent through the than a dozen companies and organizations, which are investigating or piloting the For example, the team is concerned that lack of transparency in the external reporting use of digital hiring strategies. Through collaboration between Dow Human Resources NGOs use of ESII in their operations. As in the first phase of the Collaboration, a key priority of progress made toward the $1 billion in business value for the Nature Goal might and Public Affairs, we have made significant progress toward meeting the Company’s now is to share our results publicly. The Dow and TNC Annual Report, published on NGOs raise awareness in the public and advocate for many issues that impact Dow experience a credibility gap. This concern will be addressed by more complete hiring needs through the innovative use of multi-channel digital and social media. Dow.com and nature.org, complements the other channels we use to communicate and its reputation. In some cases, the Company engages NGOs by providing public reporting on progress details. Enabling Dow’s success begins with ensuring that we have a robust talent pipeline to the outcomes of the collaboration. We are particularly interested to share our work with information about historical issues and challenges such as Agent Orange, asbestos, meet current and future business needs and fuel Dow’s growth. Digital hiring offers other companies as the focus on nature-based solutions continues to evolve in the Regulators Bhopal and dioxin. Dow engages select NGOs more directly through collaboration. For Dow the ability to target and attract qualified talent to fill strategic roles anywhere corporate sector. example, since 2011 The Nature Conservancy (TNC) and Dow have been working side The actions and proposed actions of regulators can impact Dow’s operations around the globe, faster and at lower cost than via traditional recruiting methods. and reputation. Regulators were engaged on several topics in 2017 including by side to advance our understanding of the value of nature and to carry these findings Although the project has made strong progress in 2017, there have been some microplastics, cyclic methyl siloxanes and others. Dow’s Issue and Policy Management Dow has participated in external benchmarking studies that rank the digital recruiting into the business setting. Our hypothesis is: Investing in nature will lead to conservation challenges as the team seeks to accomplish the collaboration’s objectives. The last Council drives alignment of global issues and policy management strategies, setting performance of premier companies. The benchmarking studies evaluated Dow’s AND business benefits. It is a new way of thinking, rooted in Dow’s commitment to year has been one of change at Dow, as it is in the midst of one of the largest corporate priorities, and coordinating efforts and resources. overall online talent communications across digital and social channels, our use of leading on sustainability and The Nature Conservancy’s desire to accelerate the private mergers in history. The post-merger integration activities are expected to continue social media to connect with prospective employees (e.g., LinkedIn, Facebook, Twitter, sector’s adoption of nature-based solutions. during 2018. In addition, one of the core project objectives is to conduct Nature YouTube, Glassdoor), our desktop career website, our mobile careers website and Goal workshops at as many Dow sites as possible. Given resource limitations, we are As the TNC-Dow collaboration moved into its second phase at the start of 2017, we our online application process. Dow has been ranked more favorably than premier restricted in the number of sites that we can visit annually. shifted from conducting analyses and pilots to implementing projects and spurring companies, including our competitors, for talent and also ranked higher than leading culture change with the goal of incorporating the value of nature throughout Dow global technology companies. and across other companies. The collaboration team is visiting Dow sites around the The engagements described were not undertaken specifically as part of the report world to conduct Nature Goal Workshops and to help identify projects where the preparation process but as part of our ongoing engagement process. To learn more incorporation of nature can be beneficial. We are also pleased that a peer company about how Dow reaches out to community stakeholders, please visit the Global has expressed interest in the Nature Goal concept and is working with Dow and TNC Citizenship website. to determine how it might be applied within their organization. Dow continues to make steady progress and is on pace to achieve its goal of $1 billion in business value from

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Using Science and Innovation to Advance Our Company and Society GRI 102-2, GRI 102-6 Dow combines science and technology knowledge to develop premier materials science solutions that are essential to human progress. Dow has one of the strongest and broadest toolkits in the industry, with robust technology, asset integration, scale and competitive capabilities that enable it to address complex global issues. Dow’s market-driven, industry-leading portfolio of advanced materials, industrial intermediates and plastics delivers a broad range of differentiated technology-based products and solutions to customers in approximately 175 countries and in high-growth end-markets such as packaging, infrastructure and consumer care. The following is an overview of our businesses.

Coatings & Performance Monomers Coatings & Performance Monomers leads innovation in technologies that help advance the performance of paints and coatings and also provides critical building blocks needed for the production of coatings, textiles, and home and personal care products. Its water-based acrylic emulsion technology revolutionized the global paint industry. This product grouping offers innovative and sustainable product solutions to accelerate paint and coatings performance across diverse market segments, including architectural paints and coatings, as well as industrial coatings applications used in paper, leather, wood, metal packaging, traffic markings, maintenance and protective industries. Coatings & Performance Monomers SOLUTIONS ESSENTIAL TO is a worldwide supplier of plastics additives used in a large variety of applications ranging from packaging to consumer appliances and office HUMAN PROGRESS equipment. WE DO Through diverse but focused APPLICATION/MARKET SEGMENT WHAT Acrylic binders for architectural paints and coatings, industrial businesses, Dow delivers innovative Our Products & Solutions coatings and paper; acrylic sheets; adhesives; coatings; products and solutions to markets dispersants; flocculants and detergents; impact modifiers; inks and paints; molding compounds; opacifiers and surfactants for across the world. In an increasingly both architectural and industrial applications; plastics additives; processing aids; protective and functional coatings; rheology competitive business environment, modifiers; super absorbents; and textiles we are harnessing our strong MAJOR PRODUCTS/TECHNOLOGIES science and chemistry position to ACOUSTICRYL™ liquid-applied sound damping technology; accelerate the commercialization acrylates; ACRYSOL™ Rheology Modifiers; AVANSE™ acrylic binders; EVOQUE™ Pre-Composite Polymer; foam cell promoters; of solutions for our customers and FORMASHIELD™ acrylic binder; high-quality impact modifiers; MAINCOTE™ acrylic epoxy hybrid; methacrylates; PARALOID™ strengthen our leadership position Edge ISO-free technology; processing aids; RHOPLEX™ acrylic resin; TAMOL™ Dispersants; vinyl acetate monomers; and in high-growth end markets. weatherable acrylic capstock compounds for thermoplastic and thermosetting materials

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Consumer Solutions Construction Chemicals

Consumer Solutions collaborates closely with global and regional brand owners to deliver innovative solutions for creating new and unrivaled consumer benefits and experiences; Construction Chemicals combines its deep application know-how, materials science and formulation competence to offer manufacturers key building blocks for formulating provides standalone silicone and acrylic-based materials that are used in a wide range of applications including adhesion promoters, coupling agents, crosslinking agents, efficient and differentiated building and construction materials. With a broad range of technologies – including cellulose ethers, redispersible latex powders, silicones and acrylic dispersing agents and surface modifiers; and uses innovative, versatile silicone-based technology to provide solutions and ingredients to customers in personal care, consumer emulsions – Construction Chemicals is a leading supplier to customers around the world and addresses the specific requirements of the industry across many market segments goods, silicone elastomers and the pressure sensitive adhesive industry. and applications, from roofing to flooring, and gypsum-, cement-, concrete- or dispersion-based building materials. Construction Chemicals’ chemistries are designed to help advance the performance, durability and aesthetics of buildings and infrastructure.

APPLICATION/MARKET SEGMENT APPLICATION/MARKET SEGMENT Personal care; color cosmetics; baby care; home care and Caulks and sealants, cement-based tile adhesives, concrete specialty applications with a key focus on hair care, skin care, solutions, elastomeric roof coatings, exterior insulation and finish sun care, cleansing, as well as fabric, dish, floor, hard surface and systems, industrial non-wovens, plasters and renders, roof tiles air care applications; commercial glazing; electrical and high- and siding, sport grounds and tape joint compounds voltage insulation; lamp and luminaire modules assembly; oil and gas; paints and inks; release liners; specialty films and tapes; sporting goods; and 3D printing

MAJOR PRODUCTS/TECHNOLOGIES AQUASET™ acrylic thermosetting resins, DOW™ latex powder, MAJOR PRODUCTS/TECHNOLOGIES LIQUID ARMOR™ flashing and sealant, RHOPLEX™ and Adhesives and sealants; antifoams and surfactants; coatings and PRIMAL™ acrylic emulsion polymers, WALOCEL™ cellulose controlled release; coupling agents and crosslinkers; EVOLV3D™ ethers, WEATHERMATE™ house wrap printing technology; fluids, emulsions and dispersions; formulating and processing aids; granulation and binders; oils; polymers and emollients; opacifiers; reagents; resins, gels and powders; rheology modifiers; rubber; silicone elastomers; silicon- based materials; solubility enhancers; aerospace composites; surfactants and solvents; XIAMETER® silicones; and DOWSIL™ high-performance silicone-based building products

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Energy Solutions Industrial Solutions

Energy Solutions supplies smart, innovative and customized solutions to enhance productivity and efficiency in the oil, gas and mining markets. This product grouping is aligned Industrial Solutions provides a broad portfolio of sustainable solutions that address world needs by enabling and improving the manufacture of consumer and industrial goods and with all markets of the oil and gas industry – including exploration, production (including enhanced oil recovery), refining, gas processing and gas transmission. services, including products and innovations that minimize friction and heat in mechanical processes, manage the oil and water interface, deliver active ingredients for maximum effectiveness, facilitate dissolvability, enable product identification and provide the foundational building blocks for the development of chemical technologies. Industrial Solutions supports manufacturers associated with a large variety of end-markets, notably better crop protection offerings in agriculture, coatings, detergents and cleaners, solvents for electronics processing, inks and textiles. Dow is also the world’s largest producer of purified ethylene oxide.

APPLICATION/MARKET SEGMENT APPLICATION/MARKET SEGMENT Helping customers in exploration, production, transmission, Broad range of products for specialty applications, including refining, mining and gas processing to optimize supply, improve agriculture crop protection offerings, aircraft deicing, coatings, efficiencies and manage emissions heat transfer fluids for concentrated solar power, construction, solvents for electronics processing, food preservation, fuel markers, home and personal care, infrastructure, lubricant additives, paper, transportation and utilities MAJOR PRODUCTS/TECHNOLOGIES Demulsifiers, drilling and completion fluids, heat transfer fluids, rheology modifiers, scale inhibitors, shale inhibitors, MAJOR PRODUCTS/TECHNOLOGIES specialty amine solvents, surfactants, water clarifiers, frothing separating agents Acetone derivatives, butyl glycol ethers, VERSENE™ Chelants, UCAR™ Deicing Fluids, ethanolamines, ethylene oxide, ethyleneamines, UCON™ Fluids, glycol ethers, UCARTHERM™ Heat Transfer Fluids, higher glycols, isopropanolamines, low- VOC solvents, methoxypolyethylene glycol, methyl isobutyl, polyalkylene glycol, CARBOWAX™ SENTRY ™ Polyethylene Glycol, TERGITOL™ and TRITON™ Surfactants

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Polyurethanes & CAV Packaging and Specialty Plastics

Polyurethanes & CAV is the world’s largest producer of propylene oxide and propylene glycol; a leading producer of polyether polyols and aromatic isocyanates that serve energy Packaging and Specialty Plastics serves high-growth, high-value sectors using world-class technology and a rich innovation pipeline that creates competitive advantages for efficiency, consumer comfort and industrial market sectors; and an industry leader in the development of fully formulated polyurethane systems. Propylene oxide is produced customers and the entire value chain. Dow is also the leader in polyolefin elastomers and ethylene propylene diene monomer elastomers. Market growth is expected to be driven using the chlorohydrin process as well as hydrogen peroxide to propylene oxide manufacturing technology. The product group also provides cost advantaged chlorine and caustic by major shifts in population demographics; improving socioeconomic status in emerging geographies; consumer and brand owner demand for increased functionality; global soda supply and markets caustic soda, a valuable co-product of the chloralkali manufacturing process, and ethylene dichloride and vinyl chloride monomer. efforts to reduce food waste; growth in telecommunications networks; global development of electrical transmission and distribution infrastructure; and renewable energy applications.

APPLICATION/MARKET SEGMENT APPLICATION/MARKET SEGMENT Aircraft deicing fluids, alumina, pulp and paper, appliances, Adhesives, construction, cosmetics, electrical transmission automotive bedding, building and construction, flooring, and distribution, food and supply chain packaging, footwear, footwear, heat transfer fluids, hydraulic and brake fluids, housewares, health and hygiene, industrial specialities, irrigation infrastructure, packaging, textiles and transportation pipe, photovoltaic, sporting goods, telecommunications infrastructure, and toys and infant products

MAJOR PRODUCTS/TECHNOLOGIES Aniline, caustic soda, ethylene dichloride, methylene diphenyl MAJOR PRODUCTS/TECHNOLOGIES diisocyanate (“MDI”), polyether polyols, propylene glycol, Acrylics, bio-based plasticizers, elastomers, ethylene copolymer propylene oxide, polyurethane systems, toluene diisocyanate resins, ethylene propylene diene monomer elastomers (“EPDMs”), (“TDI”), vinyl chloride monomer ethylene vinyl acetate copolymer, methacrylic acid copolymer resins, polyethylene, high-density polyethylene, low-density polyethylene, linear low-density polyethylene, polyolefin plastomers, resin additives and modifiers, semiconductive and jacketing compound solutions and wire and cable insulation

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Hydrocarbons & Energy Crop Protection

Hydrocarbons & Energy is one of the largest global producers of ethylene, an internal feedstock, and a leading producer of propylene and aromatics products that are used to Crop Protection serves the global production agriculture industry with crop protection products for field crops, such as wheat, corn, soybean and rice, and specialty crops such as manufacture materials that consumers use every day. It also produces and procures the power used by the Company’s manufacturing sites. Hydrocarbons & Energy leverages trees, fruits and vegetables. Principal crop protection products are weed control, disease control and insect control offerings for foliar or soil application or as a seed treatment. its global scale, operational discipline and feedstock flexibility to create a cost-advantaged foundation for the Company. In the U.S. and Canada, the increased supplies of natural gas and natural gas liquids remain a key cost-competitive advantage for the Company’s ethane- and propane-based production. The Company’s U.S. and European ethylene production facilities have the flexibility to use different feedstocks in response to price conditions.

APPLICATION/MARKET SEGMENT INSECTICIDES Purchaser of feedstocks; production of cost-competitive ISOCLAST™; LORSBAN™; OPTIMUM® INTRASECT® insect hydrocarbon monomers utilized by derivative businesses; and protection products RADIANT™; SENTRICON™; and TRACER™ energy, principally for use in the Company’s global operations

FUNGICIDES MAJOR PRODUCTS/TECHNOLOGIES DITHANE™; INATREQ™; Penthiopyrad family of disease control Ethylene, propylene, benzene, butadiene, octene, aromatics products - FONTELIS®, VERTISAN®, TREORIS®, FRELIZON®, ® ® ® co-products, power, steam, other utilities. Advanced feedstock AYLORA , INTELLIS , ORLIAN™, REFINZAR™; and ZORVEC positions in the United States, Canada, Argentina and the Middle East. HERBICIDES ARIGO®; ARYLEX™; BROADWAY™; CLINCHER™; DURANGO™; FENCER™; GARLON™; INSTIGATE®; LONTREL™; MILESTONE™; PANZER™; PRIMUS™; RESICORE™; RINSKOR™; SPIDER™; STARANE™; SURESTART™; and TORDON™

OTHER INSTINCT®; LUMIGEN™ Seed Sense family of seed treatment products - LUMIDERM™ and LUMIVIA™; N-SERVE™ Nitrogen Stabilizer; and TELONE™

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Electronics & Imaging Industrial Biosciences

Electronics & Imaging is a leading global supplier of differentiated materials and systems for a broad range of consumer electronics including mobile devices, television monitors, Industrial Biosciences is an innovator that works with customers to improve the performance, productivity and sustainability of their products and processes through advanced personal computers and electronics used in a variety of industries. Dow offers a broad portfolio of semiconductor and advanced packaging materials including chemical microbial control technologies such as advanced diagnostics and biosensors, ozone delivery technology and biological microbial control. mechanical planarization (CMP) pads and slurries, photoresists and advanced coatings for lithography, metallization solutions for back-end-of-line advanced chip packaging, and silicones for light emitting diode (LED) packaging and semiconductor applications. This product line also includes innovative metallization processes for metal finishing, decorative, and industrial applications and cutting-edge materials for the manufacturing of rigid and flexible displays for liquid crystal displays and quantum dot applications.

SEMICONDUCTOR TECHNOLOGIES APPLICATION/MARKET SEGMENT APPLICATION/MARKET SEGMENT Animal nutrition, detergents, biofuels production, food and Integrated circuit fabrication for memory and logic and beverage, carpet and apparel fiber, sulfuric acid, oil refining, semiconductor fabrication phosphate fertilizer and providing expertise and localized solutions for microbial control for well souring, industrial cooling MAJOR PRODUCTS/TECHNOLOGIES water, fabric odor elimination and in-can preservation and dry CMP consumables, photolithography materials, semiconductor film protection fabrication materials, fabrication cleaners and removers, advanced chip packaging maaterials and thermal management materials MAJOR PRODUCTS/TECHNOLOGIES Enzymes, BIO-PDO™ propanediol, SORONA® PPT polymer, ® CIRCUIT & INDUSTRIAL TECHNOLOGIES yeast, betaine, direct-fed microbials, MECS sulfuric acid technology, BELCO® clean air technologies, STRATCO® APPLICATION/MARKET SEGMENT alkylation technology, ISOTHERMING® hydroprocessing, Printed circuit board, electronic and industrial finishing SILVADUR™ antimicrobial, glutaralydehyde

MAJOR PRODUCTS/TECHNOLOGIES Circuit packaging materials, interconnect metallization and imaging process chemistries, dry film laminates, and flexible circuit materials

PHOTOVOLTAIC AND ADVANCED MATERIALS ADVANCED PRINTING DISPLAY TECHNOLOGIES APPLICATION/MARKET SEGMENT APPLICATION/MARKET SEGMENT APPLICATION/MARKET SEGMENT Photovoltaics, aerospace/aircraft, automotive, military and Flexographic printing and inkjet printing Display materials consumer electronics MAJOR PRODUCTS/TECHNOLOGIES MAJOR PRODUCTS/TECHNOLOGIES MAJOR PRODUCTS/TECHNOLOGIES Flexographic printing plates and materials and digital inks OLED materials, Cd-free quantum dots, display process Metallization pastes, thick film pastes, polyvinyl fluoromaterials, chemistries, LED encapsulants and display enhancement silicone encapsulants and silane precursors solutions

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Nutrition & Health Transportation & Advanced Polymers

Nutrition & Health uses cellulosics and other technologies to improve the functionality and delivery of food and the safety and performance of pharmaceutical products. Transportation & Advanced Polymers provides high-performance adhesives, lubricants and fluids to engineers and designers in the transportation, electronics and consumer end- markets. Key products include MOLYKOTE® lubricants; DOW CORNING® silicone solutions for healthcare; MULTIBASE™ TPSiV™ silicones for thermoplastics; and BETASEAL™, BETAMATE™ and BETAFORCE™ structural and elastic adhesives.

APPLICATION/MARKET SEGMENT PERFORMANCE RESINS Food and beverage, dietary supplements, child nutrition, sports MULTIBASE™ TPSiV™ silicones for thermoplastics nutrition and oral dosage pharmaceuticals excipients

MAJOR PRODUCTS/TECHNOLOGIES PERFORMANCE SOLUTIONS Cellulosic and other technologies help bring new classes of DOW CORNING® silicone solutions for healthcare; medicines to market and enable foods that are healthier (gluten- BETASEAL™, BETAMATE™ and BETAFORCE™ structural free, reduced oil/fat content). Notable technologies include and elastic adhesives excipients and active pharmaceutical ingredients, solubility enhancers, reagents, granulation and binders, as well as coatings and controlled release. Other major products include probiotics, soy protein, fibers, cultures, antioxidants, antimicrobials, emulsifiers, texturants, ingredient systems and sweeteners.

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Seed Safety & Construction

Seed provides seed/plant biotechnology products and technologies to improve the productivity and profitability of its customers. Seed develops, produces and markets canola, Safety & Construction unites market-driven science with the strength of highly regarded brands such as STYROFOAM™ brand insulation products, GREAT STUFF™ insulating cereals, corn, cotton, rice, soybean and sunflower seeds. foam sealants and adhesives, and DOW FILMTEC™ reverse osmosis and nanofiltration elements to deliver products to a broad array of markets including industrial, building and construction, consumer and water processing. Safety & Construction is a leader in the construction space, delivering insulation, air sealing and weatherization systems to improve energy efficiency, reduce energy costs and provide more sustainable buildings. Safety & Construction is also a leading provider of purification and separation technologies including reverse osmosis membranes and ion exchange resins to help customers with a broad array of separation and purification needs such as reusing wastewater streams and making more potable drinking water.

SEED BRANDS AGROMEN™ 1; DOW™ Seeds; MYCOGEN™ Seeds; NEXERA™; Omega-9 Healthier Oils; OPTIMUM® AQUAMAX® hybrids; PHYTOGEN™; and PROPOUND™

SEED TRAITS AND TECHNOLOGIES ENLIST™; ENLIST DUO™; EXZACT™ Precision Technology; HERCULEX® Insect Protection; ACREVALUE™; POWERCORE™ Insect Trait Technology 2; OPTIMUM® ACREMAX™ Family of products; REFUGE ADVANCED™ powered by SMARTSTAX® 2; and SMARTSTAX® Insect Trait Technology2

PROTECTION SOLUTIONS BUILDING SOLUTIONS WATER SOLUTIONS APPLICATION/MARKET SEGMENT APPLICATION/MARKET SEGMENT APPLICATION/MARKET SEGMENT Industrial personnel protection, military and emergency Rigid and spray foam insulation, weatherization, waterproofing Water filtration and purification technology for residential response, medical devices, automotive, aerospace, oil and gas and air sealing, caulks and sealants and roof coatings and industrial use. Key industries include municipal, power, and solid surfaces electronics, pharmaceuticals, food and beverage, mining and oil MAJOR PRODUCTS/TECHNOLOGIES 1. AGROMEN™ trademark used under license from Agromen Sementes Agricolas Ltda. and gas applications 2. SMARTSTAX® and POWERCORE™ multi-event technology developed by Dow AgroSciences LLC and Monsanto Technology LLC. SMARTSTAX®, the SMARTSTAX® MAJOR PRODUCTS/TECHNOLOGIES STYROFOAM™ brand insulation products, THERMAX™ exterior logo, POWERCORE™ and the POWERCORE™ logo are trademarks of Monsanto Technology LLC. ® ® insulation, WALOCEL™ cellulose ethers, WEATHERMATE™ DUPONT™ NOMEX fiber and paper; DUPONT TYCHEM MAJOR PRODUCTS/TECHNOLOGIES ® house wrap, XENERGY™ high performance insulation, protective suits; DUPONT™ CORIAN solid and quartz surfaces DOWEX™ and AMBERLITE™ ion exchange resins, DOW LIQUIDARMOR™ flashing and sealant, GREAT STUFF™ FILMTEC™ reverse osmosis (RO) and nanofiltration elements, insulating foam sealants and adhesives INTEGRAFLUX™ ultrafiltration modules and FORTILIFE™ RO Elements for challenging waters and applications

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Sustainable Chemistry The Rio Declaration was amended at the Johannesburg Summit to include health Risk Characterization Process identified with Dow’s product risk characterization tool. In the process, and through impacts, in addition to environmental impacts. We believe that approaches should use of supporting processes and tools, health and safety impacts are assessed with Sustainable Chemistry Index (SCI) Methodology Aligns with Our 2025 be risk-based and cost-effective. Additionally, the selected chemicals management All products (100 percent) are assessed in an appropriate manner – depending upon respect to new product development, manufacture of product, transportation and Sustainability Goals approach should be: EH&S profile, application and exposure potential – for improvement opportunities as distribution, use of product at customer facilities, and recycle, reuse or disposal. Risk As one of the metrics for our 2025 “Delivering Breakthrough Innovation” Sustainability part of Dow’s EH&S management approach at each stage of the product life cycle. mitigation measures are identified and implemented as a direct result of the Business • Proportional to the objective being pursued; Goal, Dow has developed the Sustainable Chemistry Index (SCI). The SCI is a series The human and environmental risks of all our products are characterized using Dow’s Risk Review work process. Various product stewardship efforts such as distributor of questions to be answered annually by each of our business units. The 2025 SCI • Provisional; risk characterization process/tool. The tool requires the assessment of hazard and and customer qualifications and industry advocacy work are just a couple examples of involvement in the storage, distribution, supply and use steps of product life. With questions are grouped into four themes: risk, innovation, business rewards and • The least burdensome option that provides adequate protection from exposure information to identify the risk tier. The risk tier will then determine the depth increasing interest of the value chain in chemical identity and use, working with these strategy, and value chain. Some questions require quantitative or semi-quantitative the risk. of the Product Stewardship program, including EH&S information, Business Risk answers, and some are opportunities to provide stories in text or examples. These Review requirements and distributor/customer support. Dow businesses utilize the stakeholders to support their users and address their questions is a priority. Dow As a responsible corporate citizen, Dow continues to use a well-defined process for stories can be drawn from – or be the starting point for – information used to promote Business Risk Review process to assess and minimize possible adverse impacts on continued to increase its engagement with the value chain in 2017 to provide a better assessing and managing risks in the face of uncertainty. This process is science-based, Dow products and actions or to create external reports. people, property and the environment as a result of Dow’s business activity, including opportunity for us to understand the uses and exposure potential of Dow products. ensuring decision-making includes an appropriate evaluation of risk and benefits. It minimizing EH&S impacts associated with new and existing operations, products, Further, this interaction provides a better opportunity to not only address the needs of The SCI process each year includes identification of business focal points and applies to current products as well as those being contemplated for development. applications and services throughout the products’ life cycle. our direct customers for health and safety information but also their customers. Dow subject matter experts who respond to the survey. Scoring is done by the corporate We view the precautionary principle as an application of the principles of risk accepts the responsibility to be a good steward of the environment on behalf of current team, which reviews the results with each business and aggregates the results into assessment and risk management. Risk assessment includes hazard identification, Businesses are required to conduct risk reviews when material new information is and future generations. Dow identifies the management of chemicals to protect a corporate measure of sustainable chemistry progress. Each business is provided characterization, exposure assessment and risk assessment. Risk management received, including material changes in product uses, regulations or raw materials, or human health and the environment as a priority issue. To learn more about our policy feedback in the form of scorecards, benchmarks, and lists of strengths, gaps and encompasses the identification, selection and implementation of alternative actions for when triggered, in certain cases, by the passage of time. Improvement opportunities on chemicals management and our product stewardship program, visit the Market & opportunities. The results provide a way to analyze the Company’s portfolio that addressing risk through the control of identified hazard(s) and/or exposure. have been identified to clarify and strengthen these triggers. How frequently risk Solutions section on www.dow.com. incorporates sustainability and economic performance together. reviews should be repeated is determined by the risk tier for the product/application

Below are some of the data insights we learned in the 2017 cycle (reviewing 2016 performance):

A breakthrough innovation originally developed to improve architectural paints is finding renewed 59% of Sales 70% of R&D value in making receipts printed on thermal paper more sustainable. Dow’s ROPAQUE™ NT-2900 are from products that Projects Opaque Polymer for BLUE 4EST™ Thermal Paper is a first-of-its-kind technology, offering a address world challenges address world challenges thermal paper option that is free of chemical developers. Instead the new technology relies solely Replacing Chemical on air voids in the paper coating to develop an image. Exposure to heat collapses the voided Precautionary Principle or Approach GRI 102-11 particles making the colored layer visible. Thermal paper is used broadly throughout the world for We support a precautionary approach as set out in Principle 15 of the Rio cash register receipts, tickets, tags and labels. Regulatory and consumer concern over chemical Declaration on Environment and Development: “In order to protect the environment, Developers with Air the precautionary approach shall be widely applied by States according to their developers is driving a search for replacement chemicals. In 2017, ROPAQUE™ NT-2900 Opaque capabilities. Where there are threats of serious or irreversible damage, lack of full Polymer for BLUE 4EST™ Thermal Paper, co-developed with The Koehler Paper Group, won both scientific certainty shall not be used as a reason for postponing cost-effective the U.S. EPA Presidential Green Chemistry Challenge and R&D 100 Award. measures to prevent environmental degradation.”

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Collaborations GRI 102-13

Membership of Associations Dow recognizes that the actions of one company alone cannot achieve the scope of change required to overcome global challenges such as climate change or food waste. As a global industry leader committed to advancing science and sustainability, Dow openly collaborates with customers, academia, suppliers, communities and governments. Through collaboration, we can help spur innovation, solve some of society’s greatest challenges, and lead the transition to a more sustainable planet and society by championing a more inclusive model of business. Over the years, we have nurtured successful collaborative partnerships with dozens of organizations and institutions around the world in pursuit of shared goals.

Below is a partial list of associations that Dow supported in 2017.

Acumen Center for Climate Change and Energy International Olympic Committee The Dow Centre for Sustainable Engineering Solutions (C2ES) Innovation at the University of Queensland Agriculture Retailers Association Louisiana Chemical Alliance Center for Chemical Process Safety (CCPS) The Energy Materials Industrial Research Alliance for PE Pipe Michigan Chamber of Commerce Initiative (EMIRI) European Chemistry Industry Council (CEFIC) Association of Businesses Advocating Tariff Michigan Manufacturers Association The Michigan Chemistry Council Equity (ABATE) Corporate Eco Forum National Association of Manufacturers The Nature Conservancy Alliance for Competitive Taxation CropLife America Ocean Conservancy The Sustainability Consortium America Made Coalition China Petroleum and Chemical Industry Paulson Institute Federation (CPCIF) United Nations Global Compact American Institute for Packaging and the Plastics Europe Environment (AMERIPEN) Dow Sustainability Fellows Program at the U.S. Chamber of Commerce University of Michigan Plastics Pipe Institute American Center for Life Cycle Assessment U.S. Council for International Business (ACLCA) Environmental Defense Fund Personal Care Products Council (PCPC) United States - India Strategic Partnership American Chemistry Council (ACC) Flexible Packaging Association Responsible Industry for Sound Environment Forum

American Coatings Association Global Silicones Council (GSC) Retailers Leadership Council (GC3) World Business Council for Sustainable Development (WBCSD) American Fuel & Petrochemical Global Water Challenge Smart Cities Council Manufacturers World Chlorine Council (WCC) Green Chemistry and Commerce Council Sustainable Brands American Petroleum Institute (GC3) World Economic Forum (WEF) Sustainable Packaging Coalition American Seed Trade Association Grocery Manufacturers Association World Environment Center (WEC) Texas Chemical Council Biotechnology Industry Organization (BIO) Halogenated Solvents Industry Association World Resources Institute Corporate The B Team Consultative Group Business for Social Responsibility (BSR) International Council on Chemical Associations (ICCA) Business Roundtable

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Supply Chain Sustainability Strategy Our Integrated Supply Chain Sustainability strategy is built on the following pillars: Overview GRI 102-9 Integrated Supply Chain Sustainability

Integrated Supply Chain recognizes the importance of safe, secure and Partnering through the Value Chain responsible operations throughout our value chain. With this in mind, • End-to-End Transparency Courageous • Sustainable Suppliers we have included sustainability as one of the four key tenants of our Collaboration • Advocacy Blueprint overall Integrated supply chain strategy. • Culture of Systems Thinking

World Leading Transportation With customers, suppliers and operations across the globe, supply World- • Industry-Leading Initiatives HOW WE DO IT chain sustainability is critical to our success, and core to Dow and the Leading • Incident-Free Performance Operations • Risk Management Across the Value Chain Operations & Performance customer experience. • Safety and Security in a Constantly Changing World Breakthrough Innovations in Supply Chain Design In 2017, we launched our Supply Chain Sustainability Strategy. This Unlocking • Design & Optimization for Sustainability Enabling Sustainable Growth Sustainable Enabling strategy puts the customer experience at the core of our supply chain the Potential • Sustainable Packaging of People • Energy & Resource Efficient WHAT COMES FIRST operations, helping us to achieve long-term business success while & Science

• Reliability and Resilience Compliance Governance, Management, Risk protecting people and the planet. Reducing our environmental impact Throughout 2017, we made huge strides in putting our strategy into Partnering Through the Value Chain and managing our operations safely action: We have implemented our Green Transportation Initiative, Our supply chain success depends on partnerships throughout our and responsibly is fundamental to working in collaboration with our carriers; executed our Transportation end-to-end value chain with all of our stakeholders, from suppliers Stewardship Program, achieved external recognition for our approach our business. We put the health and and logistics service providers to customers. By collaborating across to end-to-end transparency within the value chain and applied our our value chains, including participating in third-party platforms like safety of our people, communities and advocacy blueprint within our supply chain operations. EcoVadis and Ecodesk, and engaging in partnerships with suppliers and customers, we can drive sustainable business practices while environment at the heart of everything At Dow, we recognize the importance of collaboration for long- improving supply chain capability and transparency. we do. Our goal is to maintain world- term success and have further enhanced our already deep-rooted relationships with our logistic service providers, suppliers and Case Study: Dow Achieves ‘Gold’ Rating on External Platform for leading operations and to collaborate customers by proactively identifying opportunities for collaborative Fourth Consecutive Year across the value chain and with our supply chain sustainability projects and initiatives. At Dow we recognize the importance of transparency throughout communities to optimize our natural our entire value chain, and it is through our collaboration with our resource efficiency, environment, health customers and third-party platforms that we continue to drive long- term business success and improve our supply chain capability. and safety performance.

,000 2ND >2,000 1 100B LARGEST WAREHOUSES SHIPMENTS SERVICE PROVIDERS AND 135 TERMINALS POUNDS/YEAR CHEMICAL IN 59 COUNTRIES TO 100,000 SITES PER DAY RAIL FLEET GLOBALLY

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EcoVadis, an international organization that provides sustainability ratings and performance improvement tools for Case Study: Dow Road Logistics Mission to Help End Through the partnership with government officials, Dow response, set about creating a strategy to build safe goods movements through Nicer Globe and safeguard global supply chains, renewed the “Gold” status of Dow’s Integrated Supply Chain for the fourth consecutive year Human Trafficking is providing support for the following: and sustainable logistics operations to overcome these better control and proactive measures. Market vehicles in 2017, reaffirming the Company’s global citizenship commitment to supply chain transparency and sustainability challenges. The team in India worked on initiatives to are also tracked through Nicer Globe, and we aim to According to the U.S. Department of Justice, human • Providing schools with education and training excellence. trafficking is the world’s fastest-growing crime. After ensure greater transparency, visibility of shipments and bring all shipments on this platform. to help protect our most vulnerable members develop quick emergency-response support. “Gold” is the highest rating awarded by EcoVadis. The EcoVadis platform delivers reliable scorecards to monitor learning about this growing and often hidden crime of society – our children. The Gate Check Tool was launched at two major through our partnership with one of our logistics supplier practices covering 150 purchasing categories, 110 countries and 21 corporate social responsibility • Promoting overall community awareness The implementation of Nicer Globe (a Responsible locations in India in 2017. By Q3 2018, it will be indicators. The scorecards are intended to be shared with purchasers who want to assure the integrity of their carriers, Quality Carriers, the Dow Logistics Road Care® initiative by the Indian Chemical Council) includes: implemented at all Dow locations across India. The Team made it their goal to help educate the industry through local and national prevention and suppliers. With Dow’s EcoVadis rankings, our customers can be assured of our commitment to driving responsible educational campaigns. following graphic outlines the benefits that have been and sustainable end-to-end value chains. Dow is in the top 3 percent in the category of “Manufacturer of Base and spread preventative methods. Dow joined the • GPS integrator for single-window visibility achieved as a result of Dow implementing this strategy: Chemicals, Fertilizers and Nitrogen Compounds, Plastics and Synthetic Rubber” and in the top 2 percent in all Department of Transportation (DOT) in North America to To date, Dow has been identified as being a best-in- of in-transit vehicles partner on their Transportation Leaders against Human categories in its assessment of approximately 30,000 suppliers. class TAT shipping partner. • Real-time location update of shipments to Trafficking initiative and became a shipping partner with customers Dow demonstrated a comprehensive corporate social responsibility management system that Truckers against Trafficking (TAT). Additionally, Dow World-Leading Transportation Stewardship and Road Performance Safety covered the following four themes: created a proposed multigenerational human trafficking • Emergency-response support and a list prevention plan that requires Dow North American road Dow launched its Transportation Stewardship program of points of interest such as the nearest Analytics • Environmental E2E carriers and third-party logistic service providers (3PLs) in 2017 to drive the industry to new levels of safety police, fire station and crane services Management Shipment • Labor Practices & Human Rights Information to become TAT Certified by April 1, 2018. performance. We believe it is critical to have strategic isibility • Fair Business Practices • Alerts for overspeeding, pre-defined route Systems alignment and collaboration with our logistics service deviation, odd hour of operations, and • Sustainable Procurement Along with our carrier and 3PL participation, the providers and other chemical producers and shippers other incidents BENEITS The following table outlines our performance against all supplier categories as assessed by EcoVadis: proposed plan includes the following: to achieve safe and secure transportation of materials In addition, the Gate Check Tool was implemented, Route Real-Time throughout chemical supply chains across the globe. and Trip TOP 11 % of suppliers in the category Manufacture of basic chemicals, fertilizers and nitrogen compounds, plastics and • Train and educate Dow Logistics and Site providing the following capabilities: Location Environment Planning synthetic rubber in. leadership on what to look for and who to call. Update Case Study: Emerging Geographies – Managing Risk TOP 5 % of suppliers in the category Manufacture of basic chemicals, fertilizers and nitrogen compounds, plastics and • Paperless vehicle inspection having leet Labor Practices • Using Dow’s learning management system, synthetic rubber in. within Supply Chains – India centralized data accessibility Monitoring Diamond Learning, create a course for all India is one of the fastest-growing economies in the Fair Business TOP 2 % of suppliers in the category Manufacture of basic chemicals, fertilizers and nitrogen compounds, plastics and employees. • Mobile device app with questions in local Practices synthetic rubber in. world and, although it is rapidly transitioning to the language Sustainable TOP 7 % of suppliers in the category Manufacture of basic chemicals, fertilizers and nitrogen compounds, plastics and • Educate our customer base. developed nation category, the logistics sector requires • Capability to take pictures at every stage Procurement synthetic rubber in. • Review employee agreements to consider a significant improvement in terms of infrastructure, TOP 3 % of suppliers in the category Manufacture of basic chemicals, fertilizers and nitrogen compounds, plastics and • Driver details and performance history Overall (sector) adding immediate termination clauses for policy and technological transformation. synthetic rubber in. participation in trafficking activities. • One checklist for all gate inspections Overall (across all Dow identified a number of challenges with regards TOP 2 % of suppliers in all categories industry sectors) • Work with government officials on education to the transportation of chemicals in India and in As a result, Dow is now able to track all the hazardous and prevention methods, such as requiring We are proud of our commitment to environmentally friendly and socially responsible operations, as well as commercial drivers to complete a course on our accomplishments in transportation safety and security. We recognize the importance of safe and secure how to recognize human trafficking. transportation and have taken a number of steps to engage internally and externally to make a positive long-term impact. This approach has helped us to achieve business success while continuing to protect the communities within which we operate and the planet.

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Breakthrough Innovations in Supply Chain Design Transportation Stewardship: A Holistic Approach 2025 Transportation Stewardship Index Risk Reduction Across the Value Chain At Dow, we have embedded sustainability elements into supply chain design and optimization processes Dow’s Transportation Stewardship Program – an extensive, holistic 2025 Goal: Reach or exceed 50% improvement in Index (from 2015 baseline) Achieving our Transportation Stewardship goals will require us to take a broader approach to managing and technologies. This includes reducing our carbon footprint, improving energy efficiency, optimizing program focused on driving the industry toward a new standard transportation risk. To accomplish our 2025 Transportation Stewardship goals, we’re mitigating risk 1.000 costs and working with safe, sustainable and socially-responsible suppliers and logistics providers. An of transportation safety and security – achieved a number of by looking at a variety of factors, including highly hazardous materials tonne-mile reduction, modal 0.900 example of where we have collaborated with our logistic service providers is through the implementation milestones in 2017 by implementing several initiatives that support and route changes, new technology and enhanced packaging and securement. We’ve expanded our our commitment to strengthen transportation safety to reduce risk 0.800 of our Green Transportation Strategy in 2017. risk approximation and mitigation processes beyond Toxic Inhalation Hazardous (TIH) materials to to people and the planet. 0.700 0.600 2025 Target include a broader scope of materials, and we are currently evaluating opportunities within the heritage Case Study: Green Transportation Carrier Awards In 2017, Dow launched a number of Responsible Transportation 0.500 Dow Corning business units to further minimize the potential for transportation incidents. We have Index In 2016, Dow partnered with the University of Michigan’s Tauber Institute for Global Operations to Initiative programs globally. These programs emphasized 0.400 robust Distribution Risk Management programs in place that include detailed risk reviews, and we are collaboration for long-term success within our value chain and 0.300 continuously using these systems to review our vulnerabilities. These programs help us to identify our develop a green transportation initiative for our global supply chain. The collaboration resulted in an 0.189 continuing to drive the industry to a new standard of transportation 0.200 actionable strategy for Dow, consisting of internal activities to actively manage and reduce our impact, 0.154 highest transportation risk areas and target them effectively. safety and security. 0.096 as well as external engagement to drive and promote sustainable logistics. Implementation took place in 0.100 0.000 Culture Change 2017. Dow has engaged with external organizations in each region, which 2015 2016 2017 2019 2019 2020 2021 2022 2023 2024 2025 Baseline As part of Dow’s Transportation Stewardship Change Management and Communication strategy, we are has resulted in greater than 150 programs now active globally. As Report Year Asia Pacific and Latin America had previously implemented award programs with a sustainability part of this initiative, best practice programs were identified within measuring culture change with regards to transportation safety and risk management. element: S4TAR and DowGOL, respectively. It then was decided to leverage these programs to other each region. These programs will continue to be leveraged into Transportation Stewardship Culture A measurement tool has been implemented to track our culture change process amongst the different regions, the first being the launch of the North American Road Carrier/3PL Sustainability Awards in Q3 regions that do not have established pre-existing programs in place. stakeholders. This gives us insight into where we are with culture change and enables us to adapt our 2017. Collaborations took place between our North American road team and logistic service providers For example, the Nicer Globe initiative in India, Brazil’s Green Freight (LSPs) to create a survey that truly captured the importance of sustainability and provided visibility to initiative, China’s AICM initiative and the North American Layers of communication strategy accordingly. This accomplishment provides us with a solid basis to further develop next-phase communication strategies. With our new approach to managing transportation risk, we’re initiatives that were already in progress. Simultaneously, we also rolled out our Green Transportation Protection Partnership program were all identified as being of a high Leading Edge Programs focused on sharing our experiences and best practices externally to help drive the transportation industry Initiative in Europe, which included the launch of the European sustainability survey with carriers in Q4 standard and could be leveraged by other regions. to Influence the Industry 2017. The European sustainability award was launched at a Q1 2018 event. toward a safer, more sustainable future. To track our progress, we’ve created a Transportation Stewardship Risk Management Across TRANSCAER In addition to the award programs, we also have a number of regional initiatives aligned to green Index that looks at leading indicators and is comprised of metrics the Value Chain in three categories: 1) incident-free performance; 2) leading-edge transportation: Dow has been an active participant on the National TRANSCAER Task Group, a voluntary national programs; and 3) transportation risk across the value chain. By Incident Free Performance outreach effort, since its creation. For more than 15 years, we’ve had a representative serving on the 2025, Dow has committed to achieving a 50 percent improvement In Brazil, Dow is leading the implementation of a Green Transportation Program in collaboration with TRANSCAER Executive Committee, as well as a handful of personnel either serving as the regional or in the Transportation Stewardship Index and eliminating severe other international companies and the Federal University of Rio de Janeiro. In 2017, an important state coordinator and/or members of state TRANSCAER teams/committees. transportation incidents that impact the communities through which milestone was accomplished with the launch of the Reference Guide on Sustainability – Best Practices our products, raw materials and intermediates flow. 2016 was for Freight Transport. By 2020, the Brazilian Green Logistics Program is targeting to have a Green TRANSCAER Training in 2017 Every year, Dow continues to provide training, at no cost, to educate and assist communities near major our first year using the index, and we continue to be successful in Transportation Certification Program implemented in Brazil. transportation routes about hazardous materials. This training is focused on enhancing outreach to moving toward our 2025 goals. “Excellent” or “great” rating communities for improved education and emergency preparedness. We continue to be recognized for In China, Japan, Korea, South East Asia and Australia, Dow has implemented multiple programs related to To achieve our 2025 goal of eliminating severe transportation from >90% of our accomplishments, as we’ve received the TRANSCAER National Achievement Award for the past nine participants greenhouse gas emissions reduction, natural resource consumption reduction, waste management and incidents, we’ve changed the way that we manage incidents to take consecutive years. 11 different environmental awareness training to create more awareness about green transportation in collaboration a more holistic view of Dow’s transportation impact. Our incident >200 different training with LSPs. agencies/groups matrix includes three categories of incidents and enables us to locations weigh the impacts (human, environmental and community) and >700 severities of any incidents caused by Dow products. Our robust participants incident management programs helped us to achieve our goal of trained zero serious transportation incidents in 2017.

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Sustainable Packaging The Universal Packaging Specification System delivers an end-to-end packaging work process and a controlled Supplier Diversity a supplier selection process in which an initial on-site The Packaging Sustainability Council continues to focus management system of record for packaging specifications on Dow’s SAP platform. The process builds in Dow’s Supplier Diversity initiative includes small businesses and diverse businesses identified as being owned by Environment, Health & Safety (EH&S) assessment on implementing key projects as well as developing sustainability considerations at the start of all design projects and utilizes an impact assessment to evaluate benefits minorities, women, veterans (including service disabled), LGBTQ and disabled. We are committed to supplier diversity is conducted, and regular subsequent EH&S audits. future capabilities to meet our objectives for each of the across multiple areas beyond packaging material choices. The assessment looks at supplier selection, including their as an element of our global procurement strategy. In 2017, Dow named a Supplier Diversity Leader to develop and Some of the criteria reviewed in these audits include global packaging strategy areas: sustainability practices, filling operations and logistics efficiencies, to determine optimal packaging systems. From execute our three-year multigenerational plan to ensure alignment to our corporate Inclusion & Diversity strategy. safe work practices, compliance with local regulations concept to implementation, packaging data can be rapidly shared with internal partners and external customers. and permits, environmental and waste management • Seek innovative technology In addition, we have incorporated provisions into our Supplier Code of Conduct and contract templates to set Having a single source of packaging data is providing a new means for opportunity analysis. Combined with expectations with our suppliers as it relates to their role in supplier diversity. We measure, track and report our small practices and incident history. EM contract agreements • Design for sustainability efficiency gains from having a robust work process, packaging professionals now have more time to innovate the next and diverse business spend, which currently represents approximately 13 percent of spend in the United States. also specify that the manufacturer comply with Dow’s • Drive sustainable behavior generation of sustainable packaging solutions. Code of Business Conduct and the Fundamental EH&S Supplier Code of Conduct Expectations for External Manufacturers • Share the sustainability story Suppliers At Dow, we continue to engage new vendors globally and communicate Dow’s expectations that all suppliers are Logistic Service Providers Case Study: Universal Packaging Specification We work with a variety of suppliers ranging from raw material, logistic service providers (LSPs) and labor service compliant with regulations and Dow’s values through the Dow Code of Business Conduct. In 2017, our Supplier System Launch providers to capital equipment and corporate service providers. Dow has approximately 50,000 suppliers in our Code of Conduct was refreshed to add a provision on supplier diversity. Suppliers are encouraged to have an active Leveraging our approach to our suppliers and external supply chain and in approximately 130 countries, with a purchasing managed spend of approximately $27 billion. manufacturing (EM) suppliers, we also set high Design for Sustainability is one of the key global supplier diversity program and support the businesses and communities where Dow operates by engaging with We have procurement centers around the world to establish effective relationships with global and local suppliers of standards for our logistic service providers (LSPs) by strategic areas for Packaging. In 2017, the Packaging small businesses, minority- and woman-owned businesses and other diverse categories. Dow continues to review goods and services. We work with our suppliers to pursue the principles of sustainability through Responsible Care.® having in place an extensive risk-based program in order Sustainability Council focused on implementing and refresh the Supplier Code of Conduct on an annual basis, completing a full analysis of our current standards and This helps provide us with a stable supply of raw materials. to qualify providers and established periodic follow-up sustainable work processes and tools, which resulted industry best practices to ensure that we’re holding our suppliers to the highest standards regarding Human Rights assessments. These assessments include reviewing in the implementation of the Universal Packaging and Environmental Health & Safety. Our Code of Business Conduct for Suppliers is required in all new and existing health & safety practices; labor practices; environmental Specification System (UPSS). supplier engagements. The requirements of the Code of Business Conduct are built into supplier contracts so as to ensure they are contractually enforceable. We reserve compliance and security and are conducted via work the right to audit supplier compliance at any time. In processes and external initiatives such as the Safety the case where we identify less than adequate supplier & Quality Assessment System (SQAS); Chemical ® InIn water-scarcewater-scarce countriescountries suchsuch asas India,India, nearlynearly halfhalf ofof aa household’shousehold’s dailydaily waterwater practices, we reserve the right to discontinue business Distribution Institute (CDI); Responsible Care and use comes from hand-washing laundry. DOWSIL™ EasyRinse technology is a cost- Innovative Laundry with the supplier. Annually we’ve identified compliance Anti-Corruption Due Diligence (ACDD). We also operate use comes from hand-washing laundry. DOWSIL™ EasyRinse technology is cost- a detailed Distribution Risk Review process to ensure effective laundry solution that enables more precious potable water to be used for issues in less than 0.1 percent of our supplier base, effective laundry solution that enables more precious potable water to be used for resulting in the immediate cessation of business. risks are adequately mitigated. drinking rather than for cleaning. Typically, clothing is rinsed in sequential buckets of drinking rather than for cleaning. Typically, clothing is rinsed in sequential buckets of Technology Tackles We are committed to driving sustainable behavior fresh water until no foam is observed. The technology supports development of rich External Manufacturing fresh water until no foam is observed. The technology supports development of rich throughout our entire value chain and set clear External Manufacturing (EM) refers to manufacturing foam during washing. During rinsing, the technology activates to suppress foaming expectations to our suppliers including EM and LSPs to foam during washing. During rinsing, the technology activates to suppress foaming Water Scarcity services that are performed by an outside party on adhere to our commitment of environmental and socially –– helpinghelping reducereduce thethe numbernumber ofof rinsesrinses neededneeded andand savingsaving consumersconsumers waterwater andand Dow’s behalf using Dow’s intellectual property. We responsible operations. Similar to our approach with our time. Consumers can get superior wash performance while using 25-50 percent spend more than $1 billion on a diverse portfolio of time. Consumers can get superior wash performance while using 25-50 percent suppliers, if an EM or a LSP is found to be in breach of our technologies at more than 500 external manufacturers less potable water to achieve the expected visual cue of a rinsed garment. DOWSIL expectations, Dow will cease current and future business less potable water to achieve the expected visual cue of a rinsed garment. DOWSIL globally. We manage all external manufacturing opportunities with the supplier. Through our collaborative EasyRinseEasyRinse technologytechnology isis nownow beingbeing usedused byby UnileverUnilever inin itsits RINTRINT laundrylaundry barbar detergent,detergent, suppliers through a robust, risk-based work process partnerships with our upstream and downstream which, in India, is a cost-sensitive consumer product that sells for 10 rupees (14.9 that extends throughout the life of the business which, in India, is a cost-sensitive consumer product that sells for 10 rupees (14.9 stakeholders, we are able to implement sustainable relationship, from the initial selection of a supplier cents U.S.). business practices across our entire value chain. cents U.S.). through the conclusion of the business agreement. This work process includes a screening of process risks,

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Employee Health and Safety In 2016, Dow reshaped its incident reporting and measurement system. Our new system defines incident levels from 1–5, with Level Worker safety has always been a core value of Dow. Personal safety incident reduction goals have been 1 being the most severe. Our new measurement system allows for a part of our sustainability goals since inception and are represented in our 2025 Sustainability Goals the collection of low-level incident and near-miss information (Level under our World-Leading Operations Performance Goal. Looking ahead, we are working to eliminate the 4–5) in a consistent way globally, and elevates incidents with actual most severe incidents (incidents that result in fatality or life-altering injuries). or potential severe impact (Level 1–3). At Dow, facilities and teams that have a strong near-miss reporting culture have proven to have Dow has integrated our approach to managing worker safety into our Operating Discipline Management better safety performance compared to those who do not. Near- System, which broadly applies to all Dow work groups and locations. Within that management system, miss reporting is a key factor in improved safety performance and Dow has created a series of standards that lay the foundational expectations of hazard assessment supports Companywide learning from near-miss events. and risk mitigation. All safety standards apply to all Dow locations regardless of geography or operating unit. Every workgroup within Dow must establish site and unit-specific procedures that assure full Our 2025 Company Injury and Illness goal is to reduce implementation of all requirements within our standards. Standard effectiveness is evaluated through the most severe incidents by 85 percent versus our 2015 required work group self-assessments and periodic audits from an independent group within the baseline. Company. Severe Injury Illness 2025 Goal Curve Dow’s robust safety management system is maintained through a continuous improvement cycle, with 45 regular effectiveness checks. In 2017, a comprehensive update of all of the Company’s safety standards 41 was made with implementation of the changes carrying into 2018. The update involved consolidating 40 similar requirements, simplifying the way requirements are written, and harmonizing approach between 35 standards to achieve greater consistency. Additional requirements were added to address management 30

system gaps identified through investigation of incidents and near misses. 25

One aspect of our safety standards that was improved in the 2017 refresh was the reinforcement to use 20 technology and other innovative approaches to avoid putting people at risk altogether. In support of 15

this, Dow has driven the industry in innovating new technologies to remove workers from higher-hazard 10 L1 + L2 Incident Count L1 + L2 Incident 5 activities. Examples include robotic high-pressure water cleaning, robotics and drones to eliminate the 5 need for confined space entry, drones to eliminate certain elevated work, and protection devices on aerial 0 lifts. 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Baseline Report Year It is important to note that when discussing both our safety goals and performance at Dow, we concern Baseline updated to include acuisitions ourselves not only with the safety of our processes and employees, but with all workers who perform business on Dow property or on behalf of the Company.

With the goal of having every worker go home safely at the end of each day, all of our workers have the opportunity to participate in site or workgroup specific Environmental, Health and Safety teams. Additionally, our largest manufacturing locations extend this opportunity to contract employees through joint Dow-contractor site safety steering teams. GRI 403-1

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In 2017, we ramped up our support for and visibility of our non-injury pLIFE metric. • Top leadership assessments at Dow facilities globally Injury Rate Comparison A non-injury pLIFE describes an unsafe behavior or condition for which there was no • Increased visibility and focus on near misses and leading indicators via actual injury, but the incident might have led to a life-altering injury if one aspect had our new measurement system, with emphasis on our non-injury pLIFE 4 been different. Heightened awareness of and response to situations with the potential observations 3.5 for life impact is a key driver of our safety improvement efforts. These observations are visible globally and reviewed weekly for learnings to leverage. • Engagement of motorized lift equipment manufacturers to offer collision and 3 crush protection technology 2.5 The safety performance on our most significant incidents improved in 2017, with no The Company maintains the more traditional lost time and incident rate data, based 2 work-related fatalities. Unfortunately, however, the Company did still have one event on U.S. OSHA’s classification criteria to facilitate external reporting and intercompany severe enough to be counted as a Level 1 event. As always, our management system 1.5

benchmarking. Rate Injury/Illness actions were adjusted based on recent trends. The key management system elements 1 (Incidents/200,000 Hours) (Incidents/200,000 driven in 2017 were: Dow continues to demonstrate a safety record well ahead of the competition in both the 0.5

manufacturing sector and the chemical industry. 0 2015 2016 2017

2017 Safety Metrics by Region – Employees and Contractors GRI 403-2 Dow Employees and Contractors, Global U.S. Responsible Care Company Employees Lost Workday Case Rate Occupational Disease Area Recordable Injury Rate Lost day Rate (LDR) Fatality Count U.S. Chemical Manufacturing (DAWC & Fatality) Rate All U.S. Manufacturing ASIA PACIFIC 0.07 0.01 0.10 0 0.000 EUROPE/MIDDLE EAST/AFRICA/INDIA 0.11 0.07 1.85 0 0.000 Employee Health Protection GRI 403-3 LATIN AMERICA 0.16 0.07 1.54 0 0.000 Dow controls occupational health risks in our workers’ environments.

contractors NORTH AMERICA 0.14 0.03 0.92 0 0.006 Comprehensive workplace risk assessments are completed to Employee and Employee All Regions 0.13 0.04 1.10 0 0.003 evaluate hazards in the chemical manufacturing, office and field settings. Workers are provided detailed education and training along ASIA PACIFIC 0.09 0.01 0.10 0 0.000 with specific procedures for safe operation. General and tailored EUROPE/MIDDLE EAST/AFRICA/INDIA 0.10 0.08 2.06 0 0.000 health prevention programs to reduce overall health risk are also LATIN AMERICA 0.14 0.04 1.00 0 0.000 provided. Risk-control measures in the workplace are implemented, and emergency planning is coordinated with external medical and NORTH AMERICA 0.16 0.03 1.05 0 0.007 Employee only Employee public health experts. Detailed exposure controls are implemented All Regions 0.13 0.04 1.13 0 0.003 as global standards. All workers are provided baseline and periodic

ASIA PACIFIC 0.04 0.02 0 0.000 medical screening, testing, evaluation and health counseling to identify and control health problems. Clinical treatment is available, EUROPE/MIDDLE EAST/AFRICA/INDIA 0.13 0.06 0 0.000 which includes specialized protocols for Dow’s workplace. LATIN AMERICA 0.19 0.10 0 0.000 NORTH AMERICA 0.13 0.03 0 0.004 As a global organization, we have employees that work in areas with Contractors only Contractors All Regions 0.13 0.05 0 0.002 high-risk occupational hazards and are monitored medically and tracked through our health records systems. Such high-risk groups 1) Recordable injury rate includes fatalities but does not include first aid visits. 2) Recordable Injury rate includes Dow employees on Dow business and contractors performing work at Dow locations. include hearing conservation, confined space entry and other 3) Due to a change in data collection tool and privacy concerns, incident rate by gender is not available for 2017. potential exposures, such as benzene, butadiene, post-asbestos, 4) In our days lost calculation, we begin counting the day after the incident and count every calendar day toward total days lost.

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silica or other identified hazard based upon current importance of health promotion in mitigating occupational injury and illness. Community health risks are examined • Occupational health and preventive health programs both contribute to the Healthy People In summary, integrated approaches to both protect medical literature or industrial hygiene review. Their risk and opportunities for community health partnership are initiated. Workers in each area and travelers to the region component of our strategy. To measure the impact of preventive health programs, we have retooled the health and optimize health are linked at Dow. Employees is minimized by providing them with the appropriate are given specific advice about endemic health problems, such as communicable disease issues, vaccinations, air Health Assessment Program exams so that they align with the My Life Check approach for evaluating also respond with their perspective on how the preventive measures. Finally, health results are carefully quality and social conflicts. Education and prevention programs are implemented, including medication prophylaxis, “Life’s Simple 7” risk factors as defined by the American Heart Association (AHA). The impact of Company is approaching health in our annual employee monitored for trends, including summaries of health vaccination and medical treatment. Pandemic- and crisis-management planning for emerging risks are implemented occupational health programs and workplace health risk reduction is measured as a reduction in the opinion survey. The results indicated high confidence in trends and directed health epidemiology studies. Thus, when necessary. In some cases, direct support for the community is also provided (e.g., hurricane damage, tsunami, number of occupational injuries and illnesses from workplace health stressors. Dow’s approach. our system is focused on both health protection and earthquakes, radiation, HIV/AIDS). Growing evidence indicates that comprehensive policies and programs that simultaneously address health Majority of Dow Employees Report That Dow health promotion. The focus in health protection is Dow offers medical benefits that cover a range of preventive, diagnostic and treatment services. Programs vary by protection and health promotion may be more effective in preventing disease and promoting health and safety than Encourages Safe and Healthy Behaviors detailed. either approach taken separately. country and other criteria. Dow Health Services makes the following available in the area of Occupational Health and 100% health-related Human Performance: In our system, health protection hinges upon: Examples of the integrated approach: 90% • Recognizing hazards: We rely on • Employee clinical treatment services are available on-site at approximately 80 Dow clinics globally. - Smoking cessation programs are included in the education of respirator wearers. 80% toxicologists, industrial hygienists and 70% physicians to apply their expertise and • Periodic employee health assessments screen for a variety of diseases (including heart, lung, liver, - Resiliency training is included in leaders’ training curricula. kidney, blood, etc.). Specific counseling and follow up are provided to assist in reducing any identified 60% A knowledge of the scientific literature. - Risks of prolonged sitting training is integrated with the introduction of sit/stand workstations and B 50% risks. walking workstations for office workers, while also managing the personal safety risks of these stations. C • Reducing risks: Often we develop our 40% D own industrial hygiene guides (IHGs), • Health promotion programs are offered to all employees and often retirees and employees’ - Fitness for duty procedure crosses all functions involved (Health Services, Industrial Hygiene, Human 30% which drive the introduction or refinement dependent family members. These programs include education on important health risks such Resources, EH&S and Hiring functions) as tobacco use, inactivity, obesity and resiliency. Employees are taught to assess their risks and of engineering controls as well as the - Physical activity programs are targeted to people exposed to ergonomic risk to minimize injuries and A. I am held accountable for doing my work in a manner that is safe understand interventions they can pursue to reduce them. appropriate selection of personal protective illnesses and increase their fitness for duty. equipment. • Employee Assistance Programs are offered globally. These provide assistance for employees and B. People in my work area are protected from health and safety Overall, the TWH score improved by 22 percent in 2017 compared to the 2015 baseline. hazards families for issues such as general stress, anxiety, financial and family relations. • Screening for illness: We uphold the C. Dow provides a supportive work environment that encourages me Dow’s health program is recognized internationally, and the Company is regularly invited to present as a benchmark to practice healthy behaviors same rigorous standards wherever we In 2015, Dow started a Total Worker Health (TWH) initiative (in alignment with The National Institute for Occupational model program or to provide scientific information to assist regulators and experts in evaluating risks. Some D. Dow has a sincere interest in my health and well-being operate, even in countries where regulatory Safety and Health Total Worker Health concept). The program aims to integrate traditional health protection and examples include: International Neurotoxicology Association, International Commission on Occupational Health, requirements are less stringent than in the promotion programs into one single package. This initiative is part of the Company’s 2025 Sustainability Goals and is American Cancer Society, Workplace Health Initiatives, the Institute of Medicine, U.S. Environmental Protection United States. comprised of three main elements: Healthy Culture, Healthy Workplace and Healthy People. Agency, California Office of Environmental Health Hazard Assessment, Dutch Health Council, Center for Disease Of the 27 percent of employees covered by either formal • Confirming the effectiveness of our collective bargaining agreement or works council, 51 • Healthy Culture represents the underlying values driving healthy behaviors and forms the foundation Control, OSHA, NIOSH, and the Health Enhancement Research Organization. Dow efforts were recognized through system: We use both medical surveillance percent of the agreements cover health and safety of TWH efforts to promote and maintain both a Healthy Workplace and Healthy People. Using a set several awards, including Excellence in Business Action on Health (Global Business Coalition - Africa), SESI Quality to assess patterns of recognized topics. Regardless of formal trade union agreements, of questions, the Healthy Culture Index (HCI) measures a site’s alignment with evidence-based best in the Workplace Award (São Paulo, Brazil), Asia Pacific Business Services Paragon Award (Japan), Bureau of Health occupational illnesses and epidemiology to all employees are covered by Dow’s health and safety practice strategies and interventions in diverse health-related areas. Each question has an assigned Department’s, Badge of Accredited Healthy Workplace (Taiwan), and the Alzheimer’s Association’s Mission Mover perform population health surveillance for processes and programs that meet and, in most cases, score, depending on the impact on employee health. At the end of each year, Dow sites evaluate Award (United States). In 2017, Dow achieved Gold level recognition by participating in the AHA Workplace Health serious illnesses such as cancer. exceed country regulations. Health and safety are the themselves based on these questions to achieve a site score. Overall, Dow’s HCI score improved in Achievement Index for taking significant steps to build a culture of health in the workplace. Companies recognized highest priority for Dow. In addition, Dow is committed to enhancing our 2017, achieving 41 percent of the 2025 target of 100 percent and meeting the 2017 target. at the Gold level have achieved an Index score of 175-217 out of a maximum 217 points. More than 800 companies employees’ overall health for many reasons. For completed the Index assessment this year and, of those companies, 67 percent received either Gold, Silver or Bronze GRI 403-4 example, we know that healthy people are less • Healthy Workplace refers to continuous efforts to identify workplace health risks, prioritize and recognition likely to suffer injuries and illnesses. Dow started a reduce them utilizing the hierarchy of control (preferring engineering controls over the use of personal comprehensive wellness program more than two protective equipment). decades ago and was an early pioneer in recognizing the

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Environmental Materials Used by Weight or Volume GRI 301-1, Metric Unit 2016 2017 GRI 301-2, GRI 301-3 Energy Intensity Btu per lb of production 4,469 4,542 Dow is committed to world-class environmental, health and safety (EH&S) performance, as demonstrated by The Company operates in an integrated manufacturing industry-leading performance, a long-standing commitment to Responsible Care®, and a strong commitment to environment. Basic raw materials are processed Scope 1 GHGs as CO2e millions of metric tons 25.6 25.8 achieve the Company’s 2025 Sustainability Goals – goals that set the standard for sustainability in the chemical through many stages to produce a number of products Scope 2 GHGs as CO2e millions of metric tons 9.3 8.8 industry by focusing on improvement in Dow’s local corporate citizenship and product stewardship, and by actively that are sold as finished goods at various points in pursuing methods to reduce the Company’s environmental impact. those processes. The major raw material stream that Combined Scope 1 and 2 GHG Intensity lb of CO2e per lb of production .751 0.767 feeds the production of the Company’s finished goods To meet the Company’s public commitments, as well as the stringent laws and government regulations related to Scope 3 GHGs as CO e millions of metric tons 75.9 75.7 is hydrocarbon-based raw materials. The Company 2 environmental protection and remediation to which its global operations are subject, Dow has well-defined policies, purchases hydrocarbon raw materials including Emissions of Ozone Depleting Compounds – requirements and management systems. Dow’s EH&S Management System (EMS) defines the “who, what, when and metric tons 7 8 ethane, propane, butane, naphtha and condensate Corporate Totals as CFC-11e how” needed for the businesses to achieve the Company’s policies, requirements, performance objectives, leadership as feedstocks. These raw materials are used in the Nitrogen Oxide Compound Emissions metric tons 18,568 19,096 expectations and public commitments. To ensure effective utilization, the EMS is integrated into a companywide production of both saleable products and energy. The management system for EH&S, Operations, Quality and Human Resources. Sulfur Oxide Compound Emissions metric tons 2,637 2,913 Company also purchases certain monomers, primarily Emissions of Volatile Organic Compounds metric tons 9,507 8,793 It is Dow’s policy to adhere to a waste management hierarchy that minimizes the impact of wastes and emissions ethylene and propylene, to supplement internal on the environment. First, Dow works to eliminate or minimize the generation of waste and emissions at the source production. In 2017, Dow moved 36.75 million metric Chemical Emissions to Air and Water metric tons 16,997 16,789 through research, process design, plant operations and maintenance. Second, Dow finds ways to reuse and recycle tons of product in trade and consignment movements. Emissions of Priority Compounds to Air and Water mitric tons 268 273 materials. Finally, unusable or non-recyclable hazardous waste is treated before disposal to eliminate or reduce the Key raw materials purchased for use in the Water Intake millions of cubic meters 3,161 3,151 hazardous nature and volume of the waste. Treatment may include destruction by chemical, physical, biological or manufacturing process include: acetone, benzene, Wastewater millions of metric tons 140 141 thermal means. Disposal of waste materials in landfills is considered only after all other options have been thoroughly butane, condensate, electric power, ethane, hexane, evaluated. Dow has specific requirements for waste that is transferred to non-Dow facilities, including the periodic Wastewater Intensity lb of wastewater per lb or 3.2 3.1 methanol, methyl methacrylate, naphtha, natural gas, auditing of these facilities. production propane, pygas, silica and styrene. Key raw materials Waste millions of metric tons 1.66 1.73 Dow believes third-party verification and transparent public reporting are cornerstones of world-class EH&S that are produced internally and procured from external Waste Intensity lb of waste per lb of production .038 0.038 performance and building public trust. Numerous Dow sites in Europe, Latin America, Asia Pacific, the United States sources for internal consumption include aniline, and Canada have received third-party verification of Dow’s compliance with Responsible Care® and with outside aqueous hydrochloric acid, butyl acrylate, chlorine, specifications such as ISO-14001. Dow continues to be a global champion of Responsible Care® and has worked to ethylene, octane, propylene and silicon metal. Hydrogen We measure our business units’ progress on sustainable chemistry as part of the 2025 “Delivering Breakthrough broaden its impact around the world through engagement with suppliers, customers and joint venture partners. peroxide is produced internally and procured through a Innovation” Sustainability Goal using the Sustainable Chemistry Index (SCI). The SCI is an internal metric that asks consolidated variable interest entity and a joint venture. each business to report in four areas: product risk, addressing world challenges, business strategy and recognition, Dow’s EH&S policies helped the Company achieve improvements in many aspects of EH&S performance in 2017. The Company had adequate supplies of raw materials and value chain sustainability. There are questions that ask the business to estimate the amount of their raw material Dow’s process safety performance was excellent in 2017 and improvements were made in injury/illness rates. in 2017 and expects to continue to have adequate inputs that are recycled, and the amount of their sold products that are recycled at the end of their life. In 2017, Safety remains a top priority for the entire Company. Further improvement in these areas, as well as environmental supplies of raw materials in 2018. businesses reported small percentages for both questions. Opportunities for recycling vary depending on chemistry compliance, remains a top management priority, with initiatives underway to further improve performance and and application, but through the SCI, each business is being challenged to consider engagement in the circular compliance in 2018 as Dow continues to implement the Company’s 2025 Sustainability Goals. economy and increase both the use of recycled input and the recovery of products at the end of their life.

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Ethylene Value ChainEthylene Overview Value Chain Overview Ethylene Value Chain Overview Propylene Value Chain OverviewPropylene Value Chain OverviewPropylene Value Chain Overview

Building Block Building Block Building Block Building Block Dow Packaging and Dow Packaging and Ethylene Ethylene Propylene Propylene Co-monomer(s) Specialty Plastics Co-monomer(s) Specialty Plastics Butadiene Butadiene Vinyl Acetate Vinyl Acetate Dow Home & Dow Coating Materials Dow Coating MaterialsPropylene PropyleneDow Home & Feedstocks Acetic Monomer Feedstocks Acetic Monomer Oxide PersonalOxide Care Personal Care Acid Acid Benzene Benzene Ethane Ethane Ethylene Oxide Ethylene Oxide Dow Consumer Care Hydrogen Propane Oxygen Propane Oxygen Dow Consumer Care Hydrogen Dow Coating Materials Peroxide Dow PeroxideCoating Materials Butane Butane Feedstocks Feedstocks Ammonia Ammonia Propane Propane Naphtha Naphtha Amines Amines PO Oxygenated PO Oxygenated Performance Monomers Performance Monomers Butane Condensate Solvents SolventsButane Condensate Energy Solutions Energy SolutionsCarbon Monoxide Carbon Monoxide Polyglycols Polyglycols Naphtha Naphtha Surfactants Surfactants Fluids Butanol Butanol Fluids Condensate Condensate Dow Industrial Solutions Dow Industrial Solutions Dow Industrial Solutions Dow Industrial Solutions

Polyether Polyols Polyether Polyols Ethylene Glycol Ethylene Glycol Dow Construction Dow Construction Acrylates AcrylatesChemicals Chemicals Chlorine Ethylene Dichloride Vinyl Chloride MonomerEthylene Dichloride Vinyl Chloride Monomer Chlorine Chlor-Alkali Carbonand Vinyl Monoxide Carbon Monoxide Chlorine Chlorine Chlor-Alkali and Vinyl Polyurethanes Polyurethanes Isocyanates DowIsocyanates Packaging and Dow Packaging and Specialty Plastics Specialty Plastics

Packaging & PackagingCellulosics & Value Chain Cellulosics ValueSilicon Chain Value Chain Silicon Value Chain Specialty Plastics Specialty Plastics Industrial Intermediates IndustrialBuilding Intermediates Block Building Block Building Block Building Block & Infrastructure & Infrastructure Dow Construction Dow Construction Cellulose Ethers Cellulose Ethers Chemicals Silicon Chemicals Silicon Performance Performance Dow Raw Dow Raw Materials & Coatings Materials & Coatings Materials Materials Pulp (Cellulose) Pulp (Cellulose) Silicon Oxide Silicon Oxide Energy Solutions Energy Solutions Dow Performance Dow Performance Solid arrows represent how Solid arrows represent how Silanes Silicones SilanesSilicones Silicones Silicones Methyl Chloride Methyl Chloride Carbon Carbon basic chemicals feed Dow’s basic chemicals feed Dow’s value-adding chains value-adding chains Ethyl Chloride Dow Coating MaterialsEthyl Chloride Dow Coating Materials Purchased Purchased Raw Materials Dow Home & Raw Materials Dow Home & Methyl Chloride Methyl Chloride Personal Care Personal Care Dotted lines represent Dotted Ethylenelines represent Oxide Ethylene Oxide certain joint ventures or certain joint ventures or divested businesses Dow Consumer Care Dow Consumer Care divested businesses Propylene Oxide Propylene Oxide Methanol Methanol recycle recycle HCI HCI

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Management Approach for Energy The 2025 Sustainability Goal for the energy business is to procure Energy consumption outside of the Company occurs throughout • Using hydrogen as fuel utilization optimization has saved 20,805,000 MMBtu/yr. 750 MW from clean energy for Dow’s operations. We currently have Energy at Dow is managed by the Energy and Climage Change the upstream and downstream activities associated with our • In Texas City a project to reduce steam usage in the Vinyl Acetate site using advanced process contracts for 698 MW of clean energy, and we continue to pursue Business, since it is a top priority for the Company. Most of Dow’s operations. The results are summarized in the figure above. In past clean energy opportunities where the resources (wind, solar, hydro control, helped reduce 310,000 MMBtu/yr. energy comes from cogeneration (combined heat and power (or years, energy consumption outside the organization was calculated and biomass) are available and the requirements of Dow can be met along with Scope 3 GHG emissions using an Economic Input Output The 2017 energy reductions achieved in the examples above equal 21,932,030 MMBtu/yr. The types of CHP) ) plants because Dow needs both steam and power in the using these resources. manufacturing processes. CHP is considered the most efficient way (EIO) method, specifically the eiolca.net tool from Carnegie Mellon fuels saved are limited to fuel consumption and electricity. Since the projects reported above are discrete projects, the basis used for calculating savings was year-over-year, subtracting the year after the project to produce steam and power since it typically uses 20 to 40 percent 2017 Energy Consumption Source Breakdown Green Design Institute and the 2002 producer cost models. For was completed from the year before the project was completed. The energy used before the project and less fuel than conventional power generation while also reducing 2017, we have updated our calculation methods for Scope 3 GHG GHGs. The Energy Business goal is to operate Dow’s energy assets the energy used after the project was measured, and the efficiency gain was calculated directly. 5% to include primary Company data for more accurate estimates (see with manufacturing excellence and safety, creating value from our discussion of disclosure GRI 305-3). We have not yet extended that assets and commercial relationships while managing the power, 12% more rigorous calculation to the energy outside of the organization Greenhouse Gas Emissions steam and industrial gas exposure for Dow. Dow’s Energy Business Purchased natural gas estimate. The values reported for 2017 are simply scaled by is led by a Global Energy & Climate Change director. Under his Management Approach for Greenhouse Gas Emissions 51% Off gas from feedstock Company revenue from the 2016 values. leadership, the regional directors and energy managers define the Net purchased power Dow has a corporate database called Global Emissions Inventory (GEI). The emitting businesses track best integrated asset and commercial strategies for major sites Purchased steam Energy Intensity GRI 302-3 and record their emissions in GEI, the central database that is used as the basis for regional and global and the Company exposures. The Energy Tech Center supports the 32% reports of emissions. Each facility has an EH&S focal point responsible for collecting and reporting all efforts to manage energy in the most effective way through energy In 2017, our energy intensity was 4,542 Btu/lb. This represents total the waste and emission data. The GEI tracks Scope 1 GHG emissions. Scope 1 emissions come from efficiency projects within Dow’s sites. In 2017, 9.5 percent of our total purchased electricity was from energy, power, steam, compressed air, cooling water pumps and renewable sources for which we have direct purchase power other equipment used by manufacturing facilities. Energy intensity our manufacturing processes, which include power plants (cogeneration), crackers, smelters, flares, etc. Dow’s integrated approach to energy is represented through the agreements. has remained relatively flat since 2005. Dow’s Scope 2 GHG emissions come from our purchased power. Dow’s emissions are divided by Scope acronym COAT. We should: 1 GHG emissions, 74.5 percent; and Scope 2 GHG emissions, 25.5 percent. - Conserve energy by aggressively pursuing energy Energy Consumption Outside of the Organization GRI 302-2 Reduction of Energy Consumption GRI 302-4 Dow manages the reporting and cost of emissions with the joint objectives of minimizing the cost of efficiency and conservation. Dow does not track all energy efficiency improvements throughout Energy Consumption Outside of Dow (in million gigajoules) emissions and maximizing the profitability of the Company over the long term. There are two types of - Optimize, increase and diversify domestic the Company. Many improvements come as an ancillary benefit of work performed to achieve these objectives: hydrocarbon energy resources. other capital projects. For example, if a pump fails and is replaced, 83 rather than replacing it with the same pump and driver, a higher- - Accelerate development of clean and renewable GHG66 Emissions Distribution • The Energy and Climate Change business, led by a global business director and through energy alternatives. efficiency pump and driver may be chosen. Insulation is upgraded, regional directors and their organizations, both purchase and trade any required Purchased goods replaced and repaired regularly. - Transition to a sustainable energy future. Fuel and energy related activities allowances for these emissions, and consider the cost of carbon in the production and 138 acquisition of steam and power for the Company. This includes developing long-term 23% Packaging and logistics The following are examples of improvement projects and energy Other projections of the cost of carbon at each of our production locations globally. Energy Consumption Within the Organization GRI 302-1 efficiency projects and their energy savings from 2017: Scope 1 GHG Emissions 580 • In addition, the global carbon management director and team are responsible for Source Million GJ Scope 2 GHG Emissions • In Bahia Blanca, Argentina, the Energy Management 8% Scope 3 GHG Emissions developing an optimized list of projects to reduce carbon emissions and to increase Purchased Natural Gas 311 Fuel Source Capacity (MW) Consumption (Million GJ) program aims to track all energy efficiency improvements efficiency and to ensure the present and future cost of carbon is included in all capital Off Gas from Feedstock 198 based on a black box model of the site. The 2017 energy Purchased69% Wind 352 5.7 investment and maintenance decisions. Dow tracks progress in reducing emissions Purchased Electricity 132 reduction achieved equals to 480,000 MMBtu/yr. electricity Hydro 81 2.6 through three specific goals as part of our 2025 Sustainability Goals: Power Sold 61 includes • At Terneuzen, The Netherlands, the energy efficiency renewable Biomass 261 4.2 • Dow will obtain 750 MW of its power demand from renewable sources by 2025. Net Purchased Power 71 projects saved 324,630 MMBtu/yr. sources Landfill Gas 3 0.0 • Though we will grow globally over the next 10 years, Dow’s absolute greenhouse gas Purchased Steam 30 Solar 0.6 0.0 • By upgrading the power supply sourcing for HVAC units, emissions will not exceed our 2006 baseline. Net Use 610 the energy saved was 12,400 MMBtu/yr. Total 698 12.5

The Dow Chemical Company dow.com/sustainability 2017 Energy Consumption Source Breakdown

5% 12%

Purchased natural gas 96 2017 SUSTAINABILITY REPORT 97 51% Off gas from feedstock Net purchased power Purchased steam • Dow will grow, but offset emissions of priority Our intensity metrics are calculated as a ratio to global production. have hydropower in Brazil and Sweden, and biomass-based steam 32% Scope 3 GHG Emissions (in million metric tons CO e) compounds, volatile organic compounds (VOCs) and The Kyoto Protocol covers emissions of main greenhouse in Brazil. Dow is actively looking into energy efficiency projects, 2 nitrogen oxides (NOx). gases: carbon dioxide (CO ), methane (CH ), nitrous oxide (N O), new technologies and more renewable energy contracts to reduce 2 4 2 4.8 hydrofluorocarbons (HFCs), perfluorocarbons (PFCs), sulfur 3.0 We are well on track to meet these goals. We have long-term Scope 2 emissions. hexafluoride (SF ); and nitrogen trifluoride (NF ). Our direct 3.7 Purchased goods contracts to procure clean energy in the United States, Latin America 6 3 greenhouse gas (GHG) emissions are from sources controlled by End of life treatment of sold products and Europe. Approximately 9.5 percent of purchased electricity is Indirect Greenhouse Gas Emissions as CO Equivalent Investments Dow and include Kyoto and non-Kyoto GHGs using IPCC Fifth from renewable sources. Similarly, our new plants have significantly Use of sold products Assessment Report (AR5). Significantly, Dow is in compliance with 14 39.7 Other improved efficiency, enabling us to increase sales significantly with Kyoto as CO e 24.5 the Montreal Protocol so that Dow no longer emits non-Kyoto gases, 2 stable emissions. which may deplete the ozone layer rapidly. 12 Equivalents

2 10 8.8 * Other includes: Capital goods, fuel and energy-related upstream and downstream transport, employee commuting, business travel, upstream leased assets, and waste generated in operations. GHG Emissions Distribution Direct Greenhouse Gas Emissions as CO2 Equivalent (Scope 1) 8

40 6 GHG Emissions Intensity GRI 305-4 Kyoto as CO2e 23% 35 Non-Kyoto as CO e 4 2 Total GHG intensity is the sum of direct and indirect emissions 30 Equivalents 2 Scope 1 GHG Emissions 2 25.8 (ScopeGreenhouse 1 + Scope Gas 2) Emissions per pound of production. Our total GHG (million metric tons of CO -equivalent, Kyoto and non-Kyoto) 25 intensity in 2017 is 2down by 3 percent from 2016. In the last

Scope 2 GHG Emissions CO of Tons Metric of Millions 0 46 20 1994 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 44 43

8% Scope 3 GHG Emissions decade, we have significantly41 reduced our non-Kyoto emissions, 37 37 39 36 36 35 35 35 35

15 making our GHG emissions intensity metric with and without non- 69% Kyoto1990* 2005 emissions2006 2007 almost2008 2009 the2010 same.2011 2012 2013 2014 2015 2016 2017 10 Other Indirect (Scope 3) Emissions GRI 305-3 5 Other indirect (Scope 3) GHG emissions occur from sources Direct (Scope 1) GHG Emissions GRI 305-1 CO of Tons Metric of Millions 0 1994 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 not owned or controlled by Dow. We have assessed all Scope 3 Dow’s portfolio of products are energy intensive and many are Report Year categories according to the GHG Protocol Corporate Accounting

mature technologies. Since their initial introduction, the efficiency 224

and Reporting Standard provided by the World Resources Institute 235 244 253 260 269

of most processes has been improved dramatically, just as the 277 and the World Business Council for Sustainable Development. The 283 288 292 297 301

Energy Indirect (Scope 2) GHG Emissions GRI 305-2 306 emissions have been reduced. Our overall Scope 1 emissions results are summarized in the Scope 3 chart. We are transitioning Scope 1 and 2 Avoided emissions* *Estimate have been reduced since 2006. More recently, our emissions have Dow’s Scope 2 emissions have decreased since 2006. Dow from a calculation method based on economic factors to a GHG Emissions attributable to Dow insulation in service remained stable as increases in production from new facilities follows the GHG Protocol Scope 2 Guidance for the locations that methodology utilizing actual data and engineering mass-balance associated with our U.S. Gulf Coast Gulfstream investments (i.e., a do not have direct renewable energy contracts. Dow uses the calculations combined with emissions factors for mass-based new PDH unit, cracker and derivative units) have been largely offset location-based method that reflects the average GHG emissions operations from ecoinvent v2.2. This more rigorous calculation by reductions elsewhere. intensity of grids on which energy consumption occurs. Dow’s method will give us a more accurate estimate of Scope 3 emissions, 2025 Sustainability Goal is that we will obtain 750 MW of our power We are constantly evaluating new technologies, new materials although the actual Scope 3 emissions with respect to each demand from renewable sources by 2025. This strategy has helped science products, renewable energy and alternative feedstocks category could still vary significantly. Dow’s CDP climate change Dow reduce our Scope 2 emissions. Currently, we have 698 MW of that will allow us meet our 2025 Sustainability Goals. We use the response for 2017, when published, will have additional information. renewable sources contracted. In 2016, the two wind farm purchase Greenhouse Gas Protocol: A Corporate Accounting and Reporting power agreements (PPAs) started. They account for 350 MW of the Standard for guiding the reporting of greenhouse gas emissions. Dow’s historic data take into account any divestitures, mergers and 2025 Sustainability Goal, helping Dow reduce Scope 2 emissions acquisitions and may change to reflect those activities. from our procured energy in Texas during 2016 and 2017. We also

The Dow Chemical Company dow.com/sustainability Nitrogen Oxide Emissions (NOx) Volatile Organic Compounds (VOCs)

80,000 30,000

70,000 25,000 60,000

20,000 50,000

40,000 15,000

30,000 8,793 10,000 19,096 Metric Tons per Year per Tons Metric

20,000 Year per Tons Metric

5,000 10,000

0 0 1994 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 1994 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 98 2017 SUSTAINABILITY REPORT 99 Report Year Report Year

Avoided emissions resulting from the use of Dow products are an Scope 3 GHG Emissions (in million metric tons CO e) Air Emissions Sulfur Oxide Emissions (SOx) Chemical Emissions to Air and Water important contribution to reducing the overall footprint of human2 Ozone-depleting Substances GRI 305-6 activities. One of the targets for the 2025 “Delivering Breakthrough 10,000 70,000 4.8 Innovation” Sustainability Goal is for Dow’s product portfolio to Ozone-depleting emissions include substances with an ozone- 9,000 3.0 60,000 achieve3.7 three times the greenhouse gas benefitPurchased in use goods than the depletion potential greater than zero that can deplete the 8,000 50,000 burden of producing it. We are still in the processEnd of oflife calculating treatment of soldthis products stratospheric ozone layers. The emissions factors are based on the 7,000 metric for all of the Dow portfolio. An exampleInvestments is the analysis we have Montreal Protocol. Ozone-depleting emissions have been reduced 6,000 40,000 5,000 completed to quantify the GHG benefit of ourUse insulation of sold products portfolio. 96 percent since 2005. 30,000 39.7 4,000 This calculation was made by quantifying theOther GHG emissions at all 2,913 24.5 3,000 20,000 16,789 Metric Tons per Year per Tons Metric Ozone Depleting Emissions − as CFC 11 Equivalents Year per Tons Metric stages of the life cycle and comparing these with the GHG emissions 2,000 10,000 savings from the use of the insulation products in buildings and pipe 1,000 600 systems.* Other includes: The Capital estimated goods, fuel andGHG-avoided energy-related upstream emissions and downstream for 2017transport, fromemployee the commuting, 0 0 1994 business travel, upstream leased assets, and waste generated in operations. 1994 2005 2006 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 use of Dow’s insulation products is 306 million metric tons of CO e. 500 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2 Report Year GRI 305-5 Report Year 400

GHG Emissions Savings: Dow Insulation Products in Use 300 The SOx (sulfur oxides) total has increased approximately 10 percent Chemical emissions are any release or discharge to the air or water from 2016. This is mostly related to increased production. of any pollutant from a facility. Chemical emissions exclude items Greenhouse Gas Emissions 200 such as NOx, SOx, CO, CO , particulates, methane, hydrogen, (million metric tons of CO -equivalent, Kyoto and non-Kyoto) Year per Tons Metric 2 2 nitrogen, oxygen, water, aluminum and certain salts. The chemical 100 Volatile Organic Compounds (VOCs) 46 44 8 emissions total is down by 36 percent when compared to 2005. 43 41 37 37 39 36 36 35 35 35 35 0 30,000 1994 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Emissions of Priority Compounds to Air and Water 1990* 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Report Year NOx, SOx and Other Significant Air Emissions GRI 305-7 25,000 3,500 Nitrogen Oxide Emissions (NOx) 20,000 3,000 15,000 80,000 2,500 8,793 70,000 10,000 2,000 Metric Tons per Year per Tons Metric

224 60,000 5,000 235 1,500 244 253 260

269 50,000 277 283 288 292 297 301 0 1,000 306 40,000 Year per Tons Metric 1994 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Scope 1 and 2 Avoided emissions* *Estimate 500 273 GHG Emissions attributable to Dow 30,000 Report Year insulation in service 19,096 Metric Tons per Year per Tons Metric 20,000 0 Volatile organic compounds (VOCs) are organic chemicals with high 1994 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 10,000 vaporChemical pressures Emissions that react to Air photochemically and Water with the atmosphere. Report Year 0 The VOC total is down by 8 percent when compared to the 2015 1994 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 70,000 Priority compounds are comprised of chemicals with persistent, Report Year baseline. 60,000 bioaccumulative and toxic hazards, and chemicals with The NOx (nitrogen oxides) total was reduced 23 percent since 2005, carcinogenic, mutagenic and reproductive hazards. The priority 50,000 butSulfur has remained Oxide Emissions relatively (SOx)flat over the last five years. compounds total is up 1 percent when compared to 2015 baseline. 40,000

10,000 The Dow Chemical Company dow.com/sustainability30,000 9,000 20,000 16,789 8,000 Year per Tons Metric

7,000 10,000 6,000 0 5,000 1994 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 4,000 2,913 Report Year 3,000 Metric Tons per Year per Tons Metric 2,000

1,000

0 1994 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Report Year 100 2017 SUSTAINABILITY REPORT 101

Water Use Across Dow Facilities water company to implement an innovative wastewater recycling program that uses bring about substantial benefits and interest investments. The analysis has already Clean and sufficient water is a critical resource for society and for Dow’s operations. every liter of water three times – by the local community, Dow’s manufacturing plants, impacted the Freeport site’s long-term water management plan and led to a more then cooling towers. The site takes some 2.5 million m3 holistic approach with partners across the watershed. The global challenge of protecting this supply is addressed through a broad range /year of treated municipal wastewater, further purifies it, and uses it for steam and cooling. Compared to original of activities by the Company – from business offerings that enable water treatment desalination, the plant has reduced the energy use associated with water treatment These projects are examples of how Dow is reducing the potential for impact on for millions of people globally, to operations that have been working to improve the by more than 95 percent – the equivalent of reducing its carbon dioxide emissions by natural areas by recycling a portion of the water used at the plant. The strategy is efficiency of water use for decades, to external partnerships improving water quality 60,000 tonnes each year. This collaborative project has been advancing in successive part of a broader emphasis in Dow’s water stewardship program on reducing water and availability around the globe. stages for more than a decade and is featured as a case study in the Sustainable stress and improving resilience in water-stressed areas. At key water-stressed sites, the freshwater recycle and reuse rate is approximately 20 percent, and the volume of This section focuses primarily on the water footprint of our global operations. It also Watershed Management blueprint, a blueprint launched in 2017 for the 2025 recycled and reused water is about 50 MM m3/year. GRI 303-3 highlights examples of where we leverage solutions from our own portfolio of business “Leading the Blueprint” Sustainability Goal. offerings and partner with others to improve sustainable water management. The Dow Tarragona site withdraws water for cooling and other operations needs Recycling and reusing water not only reduces Dow’s water footprint but helps reduce stress on sensitive natural areas downstream of Dow sites by reducing Sustainable Water Management from the Ebro River in Spain. The site uses less than 0.05 percent of the annual flow of the river. Further downstream, the river’s delta is part of Terres de l’Ebre, Catalonia, freshwater withdrawal from the local watershed. The Terneuzen site discharges Developing sustainable water management practices is critical to our business. a UNESCO-designated biosphere and also a Ramsar site (# 593). The delta and treated wastewater into the protected area of Westerschelde and Saeftinge, which is Establishing a long-term vision for water is also a key part of our water management associated wetlands support numerous species of water birds and other wildlife. Dow assigned as a Natura 2000 area (Ramsar # 748). This large natural area covers the strategy and is reflected in the connection to water in several of our 2025 Dow entire estuary of the River Scheldestretching, stretching 60 kilometers from the border Dow Location Source Tarragona has diminished its intake from the Ebro River with projects that include Sustainability Goals. with Belgium to the North Sea. It is a saltwater/brackish area with multiple wetlands Seadrift, Texas Guadalupe River water recycling. Overall the site has increased its amount of recycled water by 13 percent since 2015. The site reclaims municipal water from two nearby cities and and mudflats on its banks that support migratory fish, birds and other wildlife. The Dow 2025 Goal Alignment with Water Strategy Bahia Blanca, Argentina Purchased freshwater purifies it at the Camp de Tarragona Advanced Water Reclamation Plant. The reused Terneuzen site nature permit allows for the discharge from municipal wastewater Leading the Blueprint Blueprint for Sustainable Watershed Management Terneuzen, The Netherlands Rivers Rhine and Meuse water is used for cooling tower water, freeing up fresh river water for other uses. reuse to the river and estuary. At our Stade, Germany, site, a project was implemented Enabling a Circular Economy Water recycle projects at Dow manufacturing sites Tarragona, Spain Purchased freshwater supply, source is Ebro River diversion This recycled water supplies up to 40 percent of Dow’s needs at one of our facilities. to optimize the biological wastewater treatment system by recycling streams with high nutrient content back to the biological reactors, which reduces the nitrogen content in Valuing Nature Projects that deliver value for Dow and for ecosystems Dow Central Germany River Saale (Schkopau site), River Weisse Elster and Lake Witznitz (Böhlen site) Additional piping is being installed to expand recycled water use at another nearby Dow facility. Dow and partners Veolia, Aguas Industriales de Tarragona SA and the water discharged to the Elbe River. GRI 306-5 World-Leading Operations Goal to reduce freshwater intake intensity by 20% at key water- Freeport, Texas Brazos River Performance stressed sites Agencia Catalana del Agua were recognized in 2016 with the Environmental Leader’s Project of the Year award. Water Stewardship in Action The Company has identified six of our manufacturing sites as key water-stressed sites. Among the key water-stressed sites that have been identified by Dow, two sites Dow also has leveraged the water reuse and partnership approach in Freeport, Texas, These sites are designated based on a number of factors: their location in a water- withdraw river water near sensitive wetlands areas designated in the Ramsar Sites its largest production facility globally, where it takes City of Lake Jackson wastewater stressed watershed; water quality; competition among users of the same watershed; database, which is a list of wetlands of international importance. The Terneuzen site in and reuses it to produce steam. Dow’s efforts to bring employees and community and local experience at the site; and long-term projections. Water supply issues are evolving The Netherlands withdraws fresh river water for cooling from the Biesbosch area, near government stakeholders together to collaborate on more holistic approaches to water and not isolated to water-stressed sites. Dow also keeps track of sites that are under the confluence of the Rhine and Meuse rivers, which is also the location of a Ramsar management were recognized with a 2013 Texas Environmental Excellence Award a “watch list” where water challenges may occur. For example, the Aratu, Brazil, site is wetland (#197). The site withdraws less than 0.007 percent of the combined flow from by the Texas Commission on Environmental Quality (TCEQ). Dow Texas Operations in currently evaluating water-supply-reliability options after experiencing supply issues the Rhine and Meuse rivers, which empty into the Biesbosch wetlands. Die Biesbosch is Freeport received the award for a series of water conservation/improved utilization due to drought in 2017. GRI 303-2 one of the largest national parks in The Netherlands and an area of extensive freshwater projects implemented in 2012 that save up to 9,900 gallons per minute (20 million wetlands. Biesbosch is rich in biodiversity, as is described further at the Ramsar m3/year) of water. The project resulted in a 10 percent reduction in water use at the website. Dow Terneuzen continues to look for opportunities to decrease its long-term site. dependence on Biesbosch water by increasing the volume of recycled water use at the site and has been active in this endeavor for many years. In the early 1990s, Dow Dow’s Freeport Texas Operations is also the site of an ambitious pilot Dow initiated began to collaborate with the municipal water board, the City of Terneuzen and a local with The Nature Conservancy to assess the value of freshwater to business. The program analyzed nature-based solutions such as watershed management that could

The Dow Chemical Company dow.com/sustainability Water Intake Quantity

4,000

3,500 3,151 3,000

2,500 3 Dow Global Water Intake 2,000

1,500

1% m of Millions 1,000

500 Freshwater 39% Seawater/brackish 0 102 Other 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2017 SUSTAINABILITY REPORT 103 Report Year 60%

Water Withdrawal by Source GRI 303-1 Freshwater intake intensity is tracked for the six defined water- Wastewater GRI 306-1 Major Wastewater Discharge Site Key Water-Stressed Sites stressed sites described above. In 2017, the freshwater intake Plaquemine, LA Terneuzen, The Netherlands Water Intake intensity at these sites was 11.2, a reduction of 5 percent from the Wastewater Intensity Stade, Germany Böhlen, Germany 2015 baseline toward the 2025 goal of 20 percent reduction. Freeport, TX Freeport, TX 1% 1% Aratu, Brazil Tarragona, Spain 4% 3.50 3.14 Midland, MI Bahia Blanca, Argentina Water Intake Quantity 3.00 Deer Park, TX Seadrift, TX Texas City, TX Surface 2.50 Municipal 4,000 Groundwater 2.00 3,500 External wastewater 3,151 1.50 Wastewater Discharge Destination 3,000

1.00 2,500 3%

94% 3 0.50 14% 2,000

Lbs. of Wastewater per Lb. of Production Lb. of per Wastewater Lbs. of 0.00 Water Intake 1,500 Surface waters Water is used for a variety of purposes in Dow production facilities 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Ocean Millions of m of Millions across the globe. Surface water withdrawals are 68 percent 1,000 Report Year POTW

freshwater and 32 percent seawater/brackish. In locations2,964 where 500 3 3,000 sea/brackish water is readily available, such as at production?? Wastewater quality is strictly governed by local regulations, 83% facilities2,000 at the coast, it is used for cooling. This accounts for the 0 and parameters are set specifically for each watershed. Dow’s high1,000 proportion of seawater/brackish water in some locations. 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 operations abide by these local regulations. Therefore, wastewater

Millions of m of Millions The majority0 of the freshwater intake is used for cooling, and most Report Year discharge quality is not reported consistently across all Dow sites. 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 The TSS discharge concentration across the sites in 2016 was of it is evaporated in cooling towers – returning the water to the Total Suspended Solids (TSS) and Biochemical Oxygen Demand Report Year 0.005 percent and the BOD concentration was 0.004 percent. environment. Rainwater is recovered in multiple locations and Once the water has been used in Dow facilities, it is typically treated (BOD) are reported for the sites listed below, which account for reused for firewater and other purposes, but its volume compared to at a wastewater treatment plant and discharged. The total volume over 85 percent of Dow’s wastewater discharge. The seven Major Wastewater Intensity Waste Treatment by Category other intakes is relatively small. of wastewater discharged in 2017 was 141 million metric tons. The Wastewater Discharge Sites were identified to establish the baseline majority of the water is discharged as surface water with a small for the 2015 Sustainability Goals and account for more than 80 Only a small proportion of the water intake ends up in product (e.g., 3.50 portion returned to oceans. At a few Dow sites, wastewater goes to3.14 a percent of the total. The six Key Water-Stressed Sites were added 6% consumption). Past assessment of water use in the sites with the 3.00 13% to the wastewater discharge quality reporting with the addition of Combustion highest freshwater intake showed that more than 85 percent of the third party for treatment before discharge (typically to surface water). the 2025 Sustainability Goal to reduce freshwater intake intensity at Energy Recovery 2.50 40% source water was returned within the watershed at equal or better Wastewater intensity is the ratio of pounds of wastewater per pound key-water stressed sites by 20 percent. Landfill 2.00 quality than at withdrawal. of production. Over many years, the wastewater intensity has been Other Treatment 1.50 22% Waste to Wastewater The total volume of water intake globally has been relatively consistent at approximately three pounds of wastewater discharged per pound of product. consistent as a result of the combined impact of process 1.00 efficiencies, business portfolio changes and growth. 19% 0.50

Lbs. of Wastewater per Lb. of Production Lb. of per Wastewater Lbs. of 0.00 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Report Year

The Dow Chemical Company dow.com/sustainability Wastewater Discharge Destination

3% 14%

Surface waters 104 2017 SUSTAINABILITY REPORT 105 Ocean POTW Waste GRI 306-2 Dow Volunteer Helps with Blue Accounting In 2017, the Company produced83% a total of 1.7 million metric tons of waste, BLUE ACCOUNTING AND THE GREAT LAKES a majority of which was thermally treated. Approximately 60 percent of The Great Lakes are the world’s largest freshwater ecosystem, containing about 20 percent of the surface freshwater supply for the the waste is classified as nonhazardous and 40 percent as hazardous as A COLLABORATIVE APPROACH FOR A COMPLEX SYSTEM world. Recognizing the importance of Great Lakes resources, the governors in the region and the premiers of Ontario and Quebec defined regionally. Total waste generated was 4 percent higher in 2017 than have called for a more collaborative and comprehensive approach for goal-setting, monitoring and reporting on key water issues. 2016, and waste intensity remained the same year-on-year.

Enter Blue Accounting. Launched in 2017, Blue Accounting is a groundbreaking initiative that helps Great Lakes communities set Waste Treatment by Category shared goals, monitor the effectiveness of efforts and measure progress toward achieving them. The Great Lakes provide The government agencies of “Hundreds of different groups – across eight states and two provinces – invest billions of dollars in protecting and restoring the DRINKING WATER FOR TWO COUNTRIES, 6% 48 MILLION PEOPLE, fuel a EIGHT STATES, TWO 13% Great Lakes, but we don’t currently have a way to measure how effective these efforts are,” said Helen Taylor, Michigan director $5 TRILLION REGIONAL PROVINCES, AND Combustion of The Nature Conservancy. “Blue Accounting gives us the tools to do this type of monitoring. It provides decision-makers a big- ECONOMY, and create 249 COUNTIES, Energy Recovery AN INVALUABLE SENSE OF as well as hundreds of NGOs and private 40% picture view of critical and complex issues.” businesses, make decisions that affect the lakes. Landfill HOME AND COMMUNITY WE MUST WORK for the basin via their scenic beauty and recreation. Other Treatment TOGETHER TO SUCCEED. Currently, the initiative, which is managed by The Nature Conservancy and The Great Lakes Commission, is focused on five key pilot 22% Waste to Wastewater issues: aquatic invasive species, coastal wetlands, maritime transportation, phosphorus control and source water protection. The initiative is supported by an innovative online platform and a set of related services. Dow has collaborated with the initiative through 19% the pioneering efforts of one of our employees, Dave McLean, business IT director for Packaging & Specialty Plastics, Feedstocks & Energy and Hydrocarbons. McLean advises on the overall program design, program management and IT approaches to help enable Blue Accounting, an initiative supported by an online information platform, provides decision-makers with a big picture view of critical Great Lakes issues. We encourage waste minimization, which includes current efforts to reduce the success of the initiative and the pilot projects. He also provides connections to other technical Dow expertise as needed. waste generation in our manufacturing units and also pollution prevention “By providing a cutting-edge, single information source for key experts and stakeholders, we are helping to enable the cross- advancement at the R&D state to avoid waste creation in the future. Our 1

2 strategy is guided by a Waste Minimization Hierarchy. organization collaboration needed to combat key issues facing the lakes today,” said McLean. “The website is helping transform DATA POLICIES INVESTMENTS existing data into useful information.” 3

INFORMATION THAT HELPS DECISION-MAKERS SET PRIORITIES AND ALLOCATE RESOURCES Most Taylor added that McLean’s work is an example of how businesses and conservation organizations can collaborate to reach shared Source reduction Preferred goals.

Use, reuse or recycle at or near the “Michigan Governor Rick Snyder has said many times that this is one of the most fundamentally transformative initiatives underway point of waste generation in the region, and it addresses one of the most critical gaps facing decision-makers and leaders in the Great Lakes Basin,” Taylor

said. “Dave has been invaluable to this project, particularly as we developed the detailed business plan for what Blue Accounting Initially, Blue Accounting is supporting five complex issues: Use, reuse or recycle external to the site or company generating should look like and how the enterprise should be designed and governed over the next five years.” the waste Today, McLean continues to serve on the bi-national Blue Accounting advisory committee and often works with its leadership team. AQUATIC SOURCE PHOSPHORUS COASTAL MARITIME Waste treatment INVASIVE SPECIES WATER CONTROL WETLANDS TRANSPORTATION “Water sustains us all, and I am proud to be part of an initiative that is helping us understand the progress we’re making and challenges that remain in protecting this vital resource,” McLean said. Proper Working together, we can improve the decisions we make to ensure the Great Lakes will always be the disposal backbone of our region, supplying fresh water and natural beauty and serving as a powerful economic engine. Least Preferred

The Dow Chemical Company dow.com/sustainability 106 2017 SUSTAINABILITY REPORT 107

Every year, we recognize hundreds of individuals through the Waste Reduction Always Pays (WRAP) In 2017 the Company achieved an impressive 22 percent reduction Corporate Citizenship award program for their waste reduction achievements. Encouraging a culture of raw material efficiency in Level 1 and Level 2 events, combined, versus 2016 results. A and rewarding individuals for positive behaviors are keys to a successful waste reduction goal. Projects total of 45 events (compared to 59 in the previous year) resulted in GLOBAL CITIZENSHIP AT DOW GRI 413-1 that address one of the top three categories of the Waste Hierarchy can be nominated for a WRAP award. releases of 82.3 metric tons of material (compared with 290 metric Each day, Dow people are seeking solutions to the complex environmental, economic and social The WRAP program has recognized individual projects since 1986, with a total projected monetary value tons in 2016). Just two years into our decade-long 2025 goal cycle, challenges facing our world. Through global citizenship, we put into action the Company’s commitment to to Dow of greater than half a billion dollars since 1995. the Company is 75 percent of the way toward the original 2025 advancing human progress by striving to create sustainable communities. target, achieving an overall 63 percent reduction from baseline in Environmental Compliance GRI 307-1 the number of these releases.These releases resulted in very minimal As part of our efforts, we look for solutions to enable economic development, sustainability and Dow Corning Corporation, a wholly owned subsidiary of Dow, has received the following notifications impact to any of our stakeholders. Impacts may have included education that lead to socially healthy and resilient communities, while also supporting and furthering from the U.S. Environmental Protection Agency (EPA), Region 5, related to Dow Corning’s Midland, localized shelter in place for vapor releases, while liquid spills are business success, in alignment with the Company’s 2025 Sustainability Goals. Our holistic approach Michigan, manufacturing facility: 1) a Notice of Violation and Finding of Violation (received in April 2012), generally captured in some form of secondary containment and promotes relevant, long-term change for communities by applying integrated solutions and cross-sector which alleges a number of violations in connection with the detection, monitoring and control of certain recovered or properly disposed of. collaborations at the intersection of sustainability, innovation and citizenship. organic hazardous air pollutants at the facility and various recordkeeping and reporting violations under Dow’s Global Citizenship strategy focuses on three strategic commitments – Workforce Solutions, the Clean Air Act; and 2) a Notice of Violation (received in May 2015) alleging a number of violations Process Safety Containment Event 2025 Goal Curve relating to the management of hazardous wastes at the facility pursuant to the Resource Conservation Community Solutions and Business Solutions. Through these commitments, we look to address global and Recovery Act. Discussions between the EPA, the U.S. Department of Justice (DOJ) and Dow Corning 140 and local challenges. 125 are ongoing. 120 The passion and expertise of our people are the heart and soul of our work. In support of our 2025 On March 14, 2017, FilmTec Corporation, a wholly owned subsidiary of Dow, received notifications 100 Sustainability Goal to positively impact the lives of 1 billion people across the globe by 2025, Dow people

from the EPA, Region 5, and the DOJ of a proposed penalty for alleged violations of the Clean Air Act at 80 are committing their time and talents through our DowCorps volunteer program. FilmTec’s Edina, Minnesota, manufacturing facility. Discussion between the EPA, DOJ and FilmTec are 60 THE INTERSECTION OF SUSTAINABILITY, INNOVATION AND CITIZENSHIP ongoing. 40

PSCE L1 + L2 Count Driven by our rapidly expanding global population, we ensure our unique chemical, physical and

Significant Spills GRI 306-3 20 20 biological science capabilities work together to provide innovative products and solutions where they are needed most. Dow is an engaged partner in applying products, solutions and expertise to solve some of Beginning in 2016, the Company began using a new metric, Process Safety Containment Event 0 (PSCE), in place of our previous Process Safety Incident (PSI) and Loss of Primary Containment (LOPC) 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 the world’s greatest challenges and build sustainable communities. Baseline metrics. Our PSCE metric is derived from an industry best practice, API RP-754. As an industry leader Report Year By understanding how solving a social problem can drive business results, companies have clear in sustainability performance, Dow has been heavily involved in the development of this metric. We incentives to invest resources to innovate more deeply and scale socially oriented business opportunities believe aligning to this measure will help us achieve an even higher level of performance related to the and markets. containment and control of the materials we handle and produce.

Similar to the approach we are now taking with Injury and Illness measurement, our new PSCE metric focuses on both incidents that have the greatest impact, as well as incidents with the greatest potential for significant impact, including process damage, interruption or possible impact on our surrounding communities. The Company has defined Levels 1–4, with Level 1 incidents having the highest actual or potential impact. By 2025, the Company’s goal is to reduce the number of Level 1 and Level 2 events by more than 80 percent from our 2015 baseline of 125.

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Nurturing Learning and Play in Safe, Sustainable Environments leaders require specific skills in change management, critical thinking, leading cross-cultural teams, strategy An element to nurturing and inspiring the workforce of tomorrow is to ensure that students and teachers are able to By collaborating with organizations and communities nationwide with the Hefty® EnergyBag™ program, development and implementation. To help develop learn, teach and play in an environment that is a catalyst for creativity and development. we are increasing plastics recovery, reducing the amount of waste going into landfills and advancing the future leaders, Dow has applied service learning, vision of a circular economy. • Singapore: Building on a successful collaboration model in China, Dow has been working with through traditional and skills-based volunteer customers, industry partners and the Grace Orchard School – a school for children with autism and Jon Pyper, associate director of sustainability & advocacy for Dow programming, to the formula. mild intellectual disabilities – to transform sports facilities, including a running track, basketball court, • Leadership in Action (LIA): LIA is an innovative parade square, therapy rooms and classrooms. Partnering with customers Nippon Paint, KDY Holdings The two winning communities, Cobb County, sustainable solutions using science and chemistry. leadership development program where and sport installer B.T. Sports, Dow incorporated the R&D 100 award-winning ECOGROUND™ and Georgia, and Boise, Idaho, were awarded The future of innovation and the development of employees work on projects with nongovernmental FORMASHIELD™ technologies. The ECOGROUND™ Waterborne Acrylic Binder System, used for $50,000 each and provided technical expertise sustainable new ideas and technologies are not only organizations (NGOs) in emerging nations. the running tracks, basketball court and parade square, is a novel low-odor, low-VOC (volatile organic to implement community waste recovery essential for Dow in meeting customer needs, but in the Participants apply their own skills and expertise to compound) solution that does not contain free TDI/MDI and provides an improved environmental programs. growth of manufacturing and the global economy. We community-based problems by working virtually friendly and higher-performing alternative to solvent-based systems. DowCorps volunteers joined Are Innovators is designed to empower change with own technology and expertise. Shared value creates a • Example: Montgomery Food Bank’s Produce for several months and in-country for one week. volunteers from Nippon Paint to paint the classrooms using paint enabled with FORMASHIELD™ resources that create sustainable impact and solutions. virtuous cycle to maximize business and social impact. Rescue Center The result is exceptional training for the employees, Formaldehyde-Abatement Technology, which is the only known paint technology that achieves greater Aligned to Dow’s 2025 Sustainability Goals, the One third of food produced across the resolution of long-term issues for the NGOs, and than 80 percent efficiency in purifying indoor air by absorbing harmful formaldehyde and converting In 2017, six projects supported with $1 million in seed modules will highlight important concepts such as the world goes to waste each year. That’s equal business penetration into new markets for Dow. them to water vapor. funding from Dow’s Business Impact Fund are helping to $1 trillion lost annually and is a missed role of sustainable chemistry and advancing a circular address issues such as access to clean drinking water, Dow’s 2017 LIA program reconfirms the • Colombia: More than 200 children in Cartagena, Colombia, have benefited from the construction of opportunity to feed the estimated 795 million economy. The campaign engages educators, inspires food waste and post-consumer waste management Company’s long-term commitment to Vietnam two classrooms built with 100 percent recycled plastic blocks. These classrooms, constructed with undernourished people globally. It also results students and leverages Dow STEM Ambassadors in Colombia, Ethiopia, Ghana, India, Indonesia and the as a primary sustainable development partner the help of DowCorps volunteers, will change the educational dynamics of more than 200 Cartagena in the consumption of natural resources and through community and world-changing service United States. with the deployment of 43 Dow employees from children by improving their training. In addition, the project is an example of collaboration between creation of greenhouse gases from food learning and actionable solutions, in support of the UN’s around the world to Hanoi and Hai Phong. Dow Dow and a diverse group of partners, including Mamonal Foundation, Conceptos Plásticos, Rochester production, processing and distribution. Sustainable Development Goals and a global economy. • Example: Energy Bag is collaborating with six strategic NGOs and College and the Colombian Council of Sustainable Construction. The project also was endorsed by the Partnering with the Montgomery County Food Building on a 10-year partnership with Keep DEVELOPING LEADERS THROUGH SERVICE universities in an effort to enhance the country’s Ministry of Education and the District Education Bank in Houston, Texas, Dow helped create a America Beautiful through the Great American LEARNING competitive advantage and address pressing local Secretary of Cartagena. The innovative and produce rescue center, using Dow packaging Cleanup™, the largest U.S. community challenges for the betterment of the Vietnamese. cross-sector collaboration is using the principles In the global economy of today and the future, Dow’s improvement program, Dow and Keep America technology to extend produce shelf life and This project sums up the wonderful collaboration of a circular economy to help close the plastic Beautiful collaborated in 2017 to launch a increase the available supply of nutritious food. between Dow, our customers and key partners cycle and create sustainable learning spaces grant program for municipalities, nonprofits, that benefit low-income communities. This effort Inspiring Innovation from a New Generation of As a leading science and technology company where we believed that the environment should materials recovery facilities and other offers an economic and sustainable alternative Student Leaders focused on solutions that are essential to human always be safe and friendly for everyone to qualifying organizations to establish Hefty® to the development of housing projects using progress, we are truly honored to partner with Dow in unleash their potential. With commitment and EnergyBag™ programs in their communities. Dow, and WE, an organization made up of WE Charity plastic construction blocks. and ME to WE, launched We Are Innovators, a new harnessing the power of chemistry to inspire students dedication from everyone, we have created a safer The grant program sought applications campaign designed to challenge educators and to innovate for a more sustainable future. Through We environment for the children of Grace Orchard Advancing a Circular Economy with the Business from communities across the United States. Impact Fund: The Hefty® EnergyBag™ program offers an students to apply chemistry and science to solve global Are Innovators, young people will have the knowledge School to study and play. innovative approach to diverting plastics that are challenges. We Are Innovators gives educators and and tools to spark innovative ideas that bring positive The Business Impact Fund, in its second year, aims students in the United States and across the world change in the world and drive economic growth. Paul Fong, country manager for Dow Singapore and not currently recycled – such as chip bags and to create shared value — unlocking Dow business the tools and hands-on experiences that enable them Malaysia juice pouches – from landfills and converting Craig Kielburger, co-founder of WE opportunities by solving social problems through our the materials into valuable energy resources. to explore global challenges and design potential

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These partnerships provide Dow a unique ability to tremendous impact from these natural disasters, but our further develop relationships with key stakeholders employees found hope in the strength of the human spirit 2017 Dow STEM Ambassadors and the healing power of working together. Engaging Employees For IMPACT as the Company progresses its growth strategy in Building the STEM S T E the Asia Pacific geographic area. In each of these disasters, Dow mobilized resources for M around the world. LIA has helped develop 202 future Dow leaders 1,526 immediate relief and long-term recovery efforts with a am • Algeria • Argen Vietn tina • 1,073 m • Braz do il ing • Ca Grants Delivered d K lifo since 2013 and applied pro-bono services to 35 commitment to support impacted employees and our ite rn n ia Recipient • U • C ne ol Worldwide ai om $7.34 MM kr b communities in the aftermath. U ia skill-based DowCorps volunteer projects in Ghana, • • Organizations d C n ro ila a Product a t h ia T • Ethiopia, Indonesia, the Philippines and Vietnam. • C s z a e Donations x c Upon impact, we immediately began coordinating with e h T • Volunteer R e in p a u p Hours b • Global Health Corporate Champions: Working S l national partners, such as the American Red Cross i • c

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t Leadership Institute has expanded globally to many of the world’s most challenging problems is rooted 35+ year partnership between Dow and Habitat for 2,300 s further cultivate superior leaders who positively Humanity, we have launched a new initiative, Habitat Volunteer 150,000 in the health and safety of our employees and neighbors, Volunteer Hours impact employee engagement and inclusion, Hammers Back, to help families recover from the 15,000 Projects and the economic vibrancy of our communities. DowCorps Served champion diversity and collaborate effectively. As unexpected. Through this program, Dow is providing Volunteers part of the program, 1,000 of our leaders in 2017 In 2017. the world watched in shock at the devastation $1 million in support to Hurricane Harvey rebuilding gained greater understanding of community and of life and property resulting from Hurricane Harvey in efforts, including a financial commitment, a broad global challenges, and volunteered their time with Texas, Hurricane Maria in Puerto Rico, and earthquakes range of technology-based products and solutions and in Mexico. Dow was one of many companies with nonprofit partners in Illinois, Louisiana, Michigan DowCorps volunteers. GRI 413-1, 413-2 and Texas. An essential part of Dow’s leadership development philosophy is action learning. The Leadership in Action program continues to be one of our flagship programs and has proven to help transform the way we develop superior leaders by introducing them to real world challenges and giving them learning experiences that test their ability to lead courageously, collaborate effectively and deliver innovative solutions that generate value. Johanna Soderstrom, chief human resources officer and senior vice president, Human Resources and Aviation

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Board of Directors GRI 102-22, GRI 102-18 More information on corporate governance, including the Corporate Governance The DowDuPont Board of Directors (the “Board”) is responsible for broad corporate Guidelines, Board Committee charters and Code of Business Conduct, is available at policy and overall performance of DowDuPont through oversight of management and www.dow-dupont.com/investors/corporate-governance. stewardship of DowDuPont. Among other duties, the Board appoints DowDuPont’s ADDITIONAL INFORMATION officers, assigns to them responsibility for management of the Company’s operations Dow Leadership and reviews their performance. The Dow executive leadership team drives an operationally excellent culture focused The Board consists of 16 directors; eight of whom were directors at Dow prior to the on executing against the Company’s strategic priorities, managing governance merger transaction and eight of whom were directors at DuPont prior to the merger and enterprise-level decisions for the Materials Science Division, and achieving its transaction. The directors are: Lamberto Andreotti, James A. Bell, Edward D. Breen, sustainability goals that create value for all stakeholders. The Board periodically Robert A. Brown, Alexander M. Cutler, Jeff M. Fettig, Marillyn A. Hewson, Lois D. Juliber, reviews progress made by Dow through the Environment, Health & Safety (EH&S) Andrew N. Liveris, Raymond J. Milchovich, Paul Polman, Dennis H. Reilley, James Committee, and makes recommendations to ensure the continued application of the M. Ringler, Ruth G. Shaw, Lee M. Thomas and Patrick J. Ward. While nominated for Company’s high ethical standards and sustainable growth as it pursues the Intended re-election, DowDuPont has announced that Mr. Liveris will serve as a director of Business Separations. The Dow executive leadership team facilitates the strong DowDuPont only through July 1, 2018, at which time he will retire from DowDuPont connection between Dow and DowDuPont, collectively enabling the highest standards and the Board. As set forth in the bylaws, the continuing Dow directors will identify a for governance. replacement to fill the vacancy at that time. The former lead independent directors of each of Dow and DuPont (Fettig and Cutler, The Dow Executive Sustainability Team respectively) serve as co-lead independent directors of the Board with responsibilities The Executive Sustainability Team serves as Dow’s management governance body for set forth in the Corporate Governance Guidelines. the Company for sustainability, environment, health & safety. The directors collectively possess a variety of skills, professional experience and diversity of backgrounds that allow them to effectively oversee DowDuPont’s business • Assures adherence to the corporate Environment,Health & Safety Policy including: leadership experience, international experience, operational experience in and revise and approve when deemed necessary. a variety of relevant fields and industries, public company board experience, board or • Decision-making for EH&S issues and strategic direction that need other significant experience with academic research and philanthropic institutions and corporate management level approval (e.g., corporate-elevated product trade and industry organizations, and prior government or public policy experience. and process risk management reviews, compliance plan performance). Corporate Governance Each director’s relevant experiences and attributes collectively provide the Board with a balance of perspectives that contribute to its effectiveness in overseeing the • Ensures continued progress is made toward achieving Dow’s sustainability goals. Chair of the Highest Governance Body: DowDuPont Leadership GRI 102-23 business, preparing for the intended business separations, and advising DowDuPont on navigating the regulatory environment for the intended business separations. • Provides strategic direction and oversight to Dow’s corporate reputation In order to ensure that DowDuPont benefited from the experience and expertise of both Dow’s and DuPont’s leadership teams and Board directors, it was determined prior to the to ensure the respect of our stakeholders. merger transaction that Andrew N. Liveris, chairman and CEO of Dow, would serve as the executive chairman of DowDuPont and Edward D. Breen, chairman and CEO of DuPont, Board Committees • Provides oversight on behalf of the Dow executive leadership team would serve as the chief executive officer of DowDuPont. As announced by DowDuPont on March 12, 2018, as of April 1, 2018, Mr. Liveris no longer serves as executive chairman. The Board maintains an Audit Committee; Compensation Committee; Corporate for the following corporate management committees: Corporate Effective April 1, 2018, Jeff M. Fettig serves as a non-employee executive chairman. See page 4 for a more detailed explanation of the merger transaction and intended business Governance Committee; and Environment, Health and Safety Committee (the Reputation Team, Crisis Management Team, Public Issue Strategy Board, separations. “Standing Committees”). In addition to the standing committees, three advisory Remediation Strategy Board, and Corporate Contribution Committee. committees were established to oversee the business and affairs of each of In addition, key executive leaders from both Dow and DuPont were named as executive officers of DowDuPont: Howard I. Ungerleider, chief financial officer; Stacy L. Fox, general DowDuPont’s Agriculture, Materials Science and Specialty Products divisions in counsel; James R. Fitterling, chief operating officer, Materials Science Division; James C. Collins Jr., chief operating officer, Agriculture Division; Marc Doyle, chief operating officer, preparation for the intended business separations. The responsibilities of each Specialty Products Division; Charles J. Kalil, special counselor to the executive chairman and general counsel for the Materials Science Division; Ronald C. Edmonds, co-controller; standing committee and advisory committee are stated in the bylaws as well as in their and Jeanmarie F. Desmond, co-controller. respective charters.

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2017 Members of the Dow Executive Sustainability Team Consulting Stakeholders on Economic, Environmental and Social Topics or arrangements between DowDuPont on the one hand and a director, officer or Evaluating the Highest Governance Body’s Performance GRI 102-28 immediate family member on the other. The process for onboarding new directors also Neil Hawkins (Chair): Corporate Vice President, Chief Sustainability Officer, GRI 102-21 The Board and each of its committees make an annual self-evaluation of its includes an orientation process that includes guidance on how to fulfill their duties as a Environment, Health & Safety Stockholders and other parties interested in communicating directly with the Board, performance with a particular focus on overall effectiveness. The Corporate member of the DowDuPont Board. executive chairman, co-lead independent directors or other independent directors Governance Committee is responsible for overseeing the self-evaluation process. Jim Fitterling: Chief Executive Officer, Dow, and Chief Operating Officer, may do so by writing in care of the office of the DowDuPont Corporate Secretary, 974 All legacy Dow directors, officers and employees are required to complete an annual DowDuPont Materials Science Division Centre Road, Wilmington, DE 19805. ethics and compliance certification, which includes questions concerning potential Effectiveness of Risk Management Processes GRI 102-30 Peter Holicki: Corporate Vice President of Manufacturing and Engineering and The DowDuPont Proxy Statement describes the requirements for submitting a conflicts of interests. All responses are reviewed by the Office of Ethics & Compliance, The DowDuPont Board is responsible for overseeing the overall risk management Environment, Health & Safety Operations proposal to be considered for inclusion in the proxy material for a future annual and action is taken to appropriately mitigate risk where an actual or apparent conflict process. Risk management is considered a strategic activity within DowDuPont meeting. exists. and responsibility for managing risk rests with executive management while the Duncan Stuart: Deputy General Counsel - Corporate Transactions & Asset Centric committees of the Board and the Board as a whole participate in the oversight of the Other public company board memberships, supplier/purchaser relationships and Businesses Legal Employees also provide input and direction through a Global Employee Opinion & process. Specifically, the Board has responsibility for overseeing the strategic planning related party disclosures are disclosed in the relevant SEC filings for DowDuPont Action Survey (GEOAS). process and reviewing and monitoring management’s execution of the corporate and Diego Donoso: Business President, Packaging and Specialty Plastics including the proxy statement and the Forms 10-K and 10-Q as appropriate. The Dow EthicsLine is a safe, reliable and convenient avenue to report ethical business plan, and each Standing Committee is responsible for oversight of specific risk areas relevant to their respective charters. This process includes an assessment of Neil Carr: Business President, Dow Coating Materials, Performance Monomers & concerns. Please see more about the Dow EthicsLine on GRI 102-17. Role of Highest Governance Body in Setting Purpose, Values and Strategy potential cyber-attacks and the ongoing review of DowDuPont’s comprehensive cyber Plastics GRI 102-26 Conflicts of Interest GRI 102-25 security program. Matt Davis: President, Dow North America, Senior Vice President, Global Public Jeff M. Fettig serves as non-employee executive chairman of the DowDuPont Board, Affairs & Government Affairs The DowDuPont Board adopted a Code of Conduct for directors and officers and a which oversees the management and stewardship of DowDuPont, including periodic Area(s) of Risk Management Standing Committee Code of Financial Ethics applicable to the chief executive officer, chief financial officer review and update of DowDuPont’s strategy and pursuit of the intended business Oversight Responsibility Pedro Suarez: Chief Commercial Officer and co-controllers. In addition, the operating subsidiaries of DowDuPont have codes separations. Compensation Committee DowDuPont’s executive compensation practices of conduct applicable to their respective employees. The full text of DowDuPont’s Delegating Authority GRI 102-19 Code of Conduct as well as the codes of conduct for Dow and DuPont are available In addition, the Materials Science Advisory Committee was established to oversee Audit Committee Management and effectiveness of accounting, the business and affairs of the Materials Science Division business operations in auditing, external reporting, compliance and Dow employs a systematic delegation of authority structure from the Dow Executive at www.dow-dupont.com/investors/corporate-governance. Further, DowDuPont preparation for the intended business separations. Responsibilities include developing internal controls, and cyber security Leadership Team throughout the Company through a chain of command. Generally, discloses on its website any waiver of or amendment to the Code of Conduct requiring disclosure under applicable rules. a strategy and operational direction; planning and making recommendations to Corporate Governance Director independence, potential conflicts of this occurs from vice presidents to business directors, to leaders and then to approve operating and capital budgets; evaluating the performance of the leadership Committee interest and other ethics and compliance specialists. All legacy Dow directors, officers, and employees are expected to be familiar with the team; receiving reports on financial performance and synergies; and identifying risk Dow Code of Conduct, and to apply it in the daily performance of their responsibilities. areas and assessing risk management, among other responsibilities. The Materials Environment, Health & Safety Emerging regulatory developments related to The Dow Executive Sustainability Team then has authority to direct and delegate The Dow Code of Conduct is intended to focus employees, officers, and directors Science Advisory Committee is comprised of eight members of the DowDuPont Committee safety, health and environment authority to act in the scope of its responsibilities for sustainability, environment, health on our Values of Integrity and Respect for People, help them recognize and make Board who are former memebers of the Dow Board; the chief executive officer of & safety for Dow’s business units, functions and process governance teams. Although each Standing Committee is responsible for overseeing the management of informed decisions on ethical issues, assist in creating a culture of the highest ethical DowDuPont; and former members of the Dow Board who are not members of the certain risks as described above, the full Board is regularly informed by the Standing and business standards, and provide mechanisms to report unethical conduct. DowDuPont Board and who serve in an ex officio capacity by virtue of their prior service Executive-Level Responsibility for Economic, Environmental and Social Topics Committees about these risks. This enables the Board and the Standing Committees on the Dow Board. GRI 102-20 The DowDuPont Corporate Governance Committee has responsibility for reviewing to coordinate risk oversight and the relationships among the various risks faced by Neil Hawkins, corporate vice president and chief sustainability officer, is responsible issues involving director independence and related person transactions using The mission, vision, values and strategy of the Materials Science division are reviewed DowDuPont. for Environment, Health & Safety and leading the Company’s commitment to Set the information obtained from directors’ responses to a questionnaire asking about their during Strategy Week, which is held twice a year, and any modifications are proposed Standard for Sustainability. Hawkins reports directly to Jim Fitterling, Chief Executive relationships with DowDuPont, and those of their immediate family members and to the Materials Science Advisory Committee for consideration. The Materials Science Officer, Dow, and Chief Operating Officer, DowDuPont Materials Science Division. primary business or charitable affiliations and other potential conflicts of interest, as Advisory Committee review and approves the proposed mission, vision, values and well as certain data collected by DowDuPont related to transactions, relationships strategy on a semi-annual basis.

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Review of Economic, Environmental and Social Topics and Communicating The Dow Executive Sustainability Team has established a set of criteria for elevating The Dow executive compensation programs deliver value through three primary These policies allowed the respective companies to recover incentive income if an Critical Concerns GRI 102-31, GRI 102-33 selected activities and opportunities and their attendant EH&S and product efficacy forms of compensation: base salary, annual incentives, and long-term incentives. The executive officer either knowingly engaged in or was grossly negligent in the event of The oversight responsibility of the Board and Standing Committees is enabled by risks for review. These criteria are not to be interpreted as defining what the Company compensation outcomes under the programs’ annual and long-term incentives are circumstances that resulted in a financial restatement or other material non-compliance. considers to be acceptable or unacceptable levels of risk, but rather they are determined by Dow’s performance. Executive compensation is linked strongly to the an enterprise risk management model and process implemented by management Under the DowDuPont Executive Compensation Recovery Policy, DowDuPont may that is designed to identify, assess, manage and mitigate risks. The Audit Committee intended to define those activities or opportunities that carry levels of risk which the financial and operational performance of the business. On average, approximately 90 Sustainability Team wants to review and approve or reject. They are intended to be percent of the executive chairman’s and the CEO’s target annual total compensation recover incentive income that was based on achievement of quantitative performance is responsible for overseeing that management implements and follows this risk targets if an executive officer engaged in grossly negligent conduct or intentional management process and for coordinating the outcome of reviews by the other “evergreen” and subject to modification and refinement based on experience with their is at risk, while more than 80 percent of the other Named Executive Officers’ use. compensation, on average, is at risk. misconduct that resulted in a financial restatement or in any increase in his or her Standing Committees in their respective risk areas. In addition, the enterprise risk incentive income. Incentive income includes income related to annual bonuses and management model and process are reviewed with the Board annually, and the Board Thirteen principal risks were disclosed in the 2017 Dow 10-K. See the 2017 Dow long-term incentives. recognizes that risk management and oversight comprise a dynamic and continuous Executive Chairman and CEO Target Annual Total Other NEO Target Annual Total 10‑K, PART I, Item 1A for a more complete discussion of Risk Factors. Compensation for 2017 (Average) Compensation for 2017 (Average) process. Sign-on Bonuses or Recruitment Incentive Payments Remuneration Policies for the Highest Governance Body and Senior The strategic plan and critical issues and opportunities are presented annually to Dow rarely uses sign-on bonuses or recruitment incentive payments during the Executives GRI 102-35 11% the Board by the CEO and senior management. Throughout the year, management 17% recruitment of senior executives. If needed, such sign-on bonuses or recruitment reviews any critical issues and actual results compared to plan with the Board Objectives of Dow’s Executive Compensation Program 18% incentive payments may be delivered in the form of either retention shares or cash and relevant Standing Committees. Members of executive management are also 20% in order to attract and retain the most talented executives to succeed in today’s The objectives of Dow’s compensation program are to align executives’ compensation 71% 63% available to discuss DowDuPont’s strategy, plans, results and issues with the Standing with Dow’s short-term and long-term financial and operational performance and to competitive marketplace. Committees and the Board, and attend such meetings to provide periodic briefings provide the compensation framework to attract, retain and motivate key executives a ) a ) riable (9% riable (3% and access. In addition, the Audit Committee regularly meets in executive sessions who are critical to achieving Dow’s vision, strategy and our longer-term success. The Potential Payments Upon Termination or Change-in-Control and holds separate executive sessions with the lead client service partner of the primary objectives of Dow’s executive compensation program are as follows: Dow follows local pay practices for severance payments excluding those impacted independent registered public accounting firm, internal auditor, general counsel and Base Annual Incentive LTI • Support the achievement of Dow’s vision and strategy by legacy change-in-control agreements. While such legacy agreements remain in other management as appropriate. existence, the Board prohibits new or amended change-in control agreements and no • Motivate and reward executives when they deliver desired business Performance Criteria new agreements with Dow executives have been executed since 2007. To find details From January 1, 2017 until the closing of the merger transaction on August 31, 2017, results and stockholder value Dow held eight Board meetings and seventeen Standing Committee meetings. From Consistent with our pay-for-performance philosophy, a significant portion of executive about potential payments upon termination or change-in-control, see the DowDuPont • Attract and retain the most talented executives to succeed in today’s September 1, 2017 through December 31, 2017, DowDuPont held three Board 2018 Proxy Statement on pages 64 through 66. competitive marketplace compensation consists of variable performance-based annual and long-term meetings and eight Standing Committee meetings. All of the Directors attended more incentives. These incentive programs include a balanced set of metrics that include Process for Determining Remuneration GRI 102-36. than 75% of the sum of the total number of Board meetings and the total number of • Create an ownership alignment with stockholders operating return on capital, relative total shareholder return, operating net income, meetings of the Standing Committees on which the Director served during the past Compensation is a key component of Dow’s Employee Value Proposition (EVP). Pay Mix management operating cash flow, and an individual performance multiplier ranging year. The Directors are encouraged to attend all Annual Meetings of Stockholders, and from 0-125 percent of the annual incentive award. Environment, Health & Safety Dow has a variety of compensation programs to incentivize and reward employees’ in 2017 all thirteen Directors then serving on the Dow Board attended the Dow Annual 2017 was a unique year, as both Dow and DuPont operated as standalone companies metrics are thoroughly embedded in the leadership expectations of Dow executives, contributions. Meeting of Stockholders held on May 11, 2017. prior to the merger transaction, each with its own executive compensation and benefit and executives are held accountable for environment, health, and safety objectives There are two main components of compensation that all Dow employees receive: programs and practices. Given the intended business separations within a relatively through the individual performance process, which therefore significantly impacts the base pay and an annual variable program called the Performance Award. These Nature and Total Number of Critical Concerns GRI 102-34 short period of time after the closing of the merger transaction, a decision was made annual cash incentive. to not develop separate executive compensation programs at the DowDuPont level components are reviewed for each employee annually through Dow’s Global Pay The Business Risk Review (BRR) Work Process exists to help Dow employees identify, for 2017. Rather, the executive officers of DowDuPont continue to be employees Planning (GPP) cycle. evaluate and manage EH&S risks, including risks associated with possible failure of a Executive Compensation Recovery (Clawback) Policy of, and participants in, the compensation and benefit programs of Dow and DuPont, product to perform as intended (i.e., product efficacy). Fundamental to the entire BRR respectively. As part of their overall Corporate Governance structures, both Dow and DuPont During the GPP cycle, annual base pay increase guidelines and Performance Award Work Process is the recognition by someone in the organization that there is an activity maintained Executive Compensation Recovery Policies for their executive officers. payout guidelines are created for each employee by Dow’s global compensation or opportunity that potentially poses a risk to people or the environment and that is a candidate for a risk evaluation.

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department. Supervisors make compensation decisions for their employees using Throughout the year, the independent directors and members of the management Entities Included in the Consolidated Financial Statements GRI 102-45 these guidelines and assessing the employee’s overall contribution and goal teams at Dow, DuPont, and DowDuPont continued extensive outreach to stockholders, Subsidiaries of the Company, for which the effective ownership by Dow is 50 percent or more, are listed in the Dow 2017 10-K (Item 1, page 9). completion, including performance on sustainability goals. All compensation decisions engaging with investors who collectively held over 50 percent of outstanding shares of are reviewed by second-level leaders and ultimately functional leadership for equity each company. Through this outreach, the management teams updated investors on and consistency. a range of topics such as the merger transaction and intended business separations, Principal Nonconsolidated Affiliates at December 31 Ownership Interest the overall business strategy, current business conditions, corporate citizenship and 2016 2015 2014 The DowDuPont Compensation Committee is a subset of the DowDuPont Board. The sustainability, corporate governance practices and executive compensation, as well as (1) committee, which is comprised of independent directors, oversees the compensation gained an understanding of the perspectives and concerns of each investor. The Board Dow Corning Corporation N/A 50% 50% of the executive officers of DowDupont (or, in the case of both the executive chairman and management teams carefully consider the feedback from these meetings, as EQUATE Petrochemical Company K.S.C. 42.5% 42.5% 42.5% and the CEO, by the Compensation Committee and the independent members of the well as stockholder support, when reviewing the business, corporate governance and The HSC Group: (2) Board.) The Compensation Committee is responsible for the approval of the overall executive compensation profiles. design of Dow’s annual Performance Award and Long-Term Incentive programs, and DC HSC Holdings LLC 50% N/A N/A the metrics and goals that determine payout amounts. Defined Benefit Plan Obligations and Other Retirement Plans GRI 201-3 Hemlock Semiconductor L.L.C. 50.1% N/A N/A The Kuwait Olefins Company K.S.C. ("TKOC") 42.5% 42.5% 42.5% The Compensation Committee has retained external compensation consultants, who Dow and DuPont did not merge their defined benefit pension plans and other report directly to the committee. The consultants advise the committee on trends postretirement benefit plans as a result of the merger transaction. The Kuwait Styrene Company K.S.C. ("TKSC") 42.5% 42.5% 42.5% and issues in executive compensation, and provide advice and recommendations Map Ta Phut Olefins Company Limited (3) 32.77% 32.77% 32.77% in relation to proposed compensation and the design of the legacy compensation Dow Defined Benefit Pension Plans MEGlobal (4) N/A N/A 50% programs maintained by each of Dow and DuPont. The Company has both funded and unfunded defined benefit pension plans that cover Sadara Chemical Company 35% 35% 35% employees in the United States and a number of other countries.The U.S. qualified plan The compensation consultants have multiple safeguards and procedures in place The SCG-Dow Group: covering the parent company is the largest plan. Benefits for employees hired before to maintain the independence of the consultants in their executive compensation January 1, 2008, are based on length of service and the employee’s three highest Siam Polyethylene Company Limited 50% 50% 50% consulting practice. These safeguards include a rigidly enforced Code, a policy against consecutive years of compensation. Employees hired after January 1, 2008, earn Siam Polystyrene Company Limited 50% 50% 50% investing in client organizations and separation between their executive compensation benefits that are based on a set percentage of annual pay plus interest. consulting and their other administrative and consulting business units from a Siam Styrene Monomer Co., Ltd. 50% 50% 50% leadership, performance measurement, and compensation perspective. The Company’s funding policy is to contribute to the plans when pension laws and/ Siam Synthetic Latex Company Limited 50% 50% 50% or economics either require or encourage funding. In 2017, the Company contributed Univation Technologies, LLC (5) N/A N/A 50% How Stakeholders’ Views Are Sought and Taken into Account Regarding $1.676 million to its pension plans, including contributions to fund benefit payments (1) On June 1, 2016, Dow became the 100 percent owner of Dow Corning. Remuneration GRI 102-37 for its non-qualified pension plans. The Company expects to contribute approximately (2) The HSC Group was previously part of the Dow Corning equity method investment and was added as principal nonconsolidated affiliates in the fourth quarter of 2016. Both Dow and DuPont have provided stockholders a “say-on-pay” advisory vote on $500 million to its pension plans in 2018. (3) The Company’s effective ownership of Map Ta Phut Olefins Company Limited is 32.77 percent, of which the Company directly owns 20.27 percent and indirectly owns 12.5 percent its executive compensation programs since 2011. At the DowDuPont 2018 Annual through its equity interest in Siam Polyethylene Company Limited and Siam Synthetic Latex Company Limited.

Meeting of Stockholders, more than 93 percent of the votes cast by our stockholders Additional information about pension plans and other postretirement benefits can be (4) On December 23, 2015, the Company sold its 50 percent ownership interest in MEGlobal to EQUATE. MEGlobal is treated as a separate principal nonconsolidated affiliate through the date of divestiture.

approved our say-on-pay proposal. We believe the continued support reflects the found in the 2017 Dow Form10-K and the DowDuPont 2018 Proxy Statement. (5) On May 5, 2015, Univation, previously a 50:50 joint venture between Dow and ExxonMobil, became a wholly owned subsidiary of Dow. implementation of feedback from our stockholders in regard to the changes to our long-term incentive award mix, share usage and additional disclosures on our plan metrics and peer groups. Following an Annual Meeting of Stockholders, the Compensation Committee (see GRI 102-36) carefully evaluates the results of the say- on-pay vote at subsequent meetings of the Committee.

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Funding Program Program Title Government Funding Program Program Title Government Support ($MM) * Support ($MM) * Belgium National Fuels and chemicals by fast pyrolysis of biomass 2.2 European Commission Integrated model guided process optimization of steam cracking furnaces 7.6 Dutch National Lower olefins from synthesis gas using supported iron catalysts coping with the challenges of selectivity and stability 1.1 European Commission European Materials Modelling Council 4.3 Dutch National Energy-efficient valorization of components from process water streams 0.9 European Commission Sustainable Production of Industrial Recovered Energy using en-ergy dissipative and storage technologies 4.2 Dutch National Water Nexus – Securing water supply in delta and floodplain are-as worldwide 7.5 European Commission Lignin oxidation technology for versatile lignin dispersants 4.8 Dutch National Low Cost Storage of Heat 0.3 European Commission Materials Technologies for Performance Improvement of Cooling Systems in Power Plants 10.7 Dutch National Debottlenecking of Chromatographic Separations 0.9 European Commission Impact of air pollutants on cutaneous responses in both healthy and compromised skin barrier, and innovative solutions to protect skin against urban pollution 0.9 Dutch National Integrale Mobiele Process Water-OnderzoeksVoorziening voor een Economische Delta 0.1 European Commission Robotica Smart Tooling 2.0 Dutch National Compact Conversion and Storage of Thermal Energy 2.4 European Commission Commercialization of a full carbon wheel manufactured with an automated high-volume process for the automotive market 2.3 Dutch National Energy-efficient Combined Heat and Mass Process 1.0 European Commission Lignin oxidation technology for versatile lignin dispersants 4.8 Dutch National Steam and Condensate Quality Water Process Technology 1.1 German National Modeling and optimization of transdermal therapeutic systems 0.3

Dutch National Development and demonstration of low-carbon technologies to transform CO2 and CO streams from the steel industry into new value chains 7.0 Spanish National Development of new filtration process of water reuse from water with high fouling potential 0.7 Dutch National Isobutene production from waste gases via engineered microbes 0.1 State of Pennsylvania High Resolution Mapping of Size and Surface Charge Distribution of Particle-Stabilized Colloids Used in Architectural Coatings 0.1 Dutch National Waste heat recovery in industrial batch processes: Analysis of combined heat storage and heat pump application 0.6 US-DOD Digital Manufacturing & Design Innovation Institute 70.0 Dutch National Sustainable steam production for industry 1.0 US-DOD Integrated Scheduling and Control for Real-Time Optimization of Factory Operations 0.8 Dutch National Electrically driven, thermo-acoustic high-temperature steam producing heat pump 0.6 US-DOI New or Improved Polyamide Membranes and Associated Pro-cesses and Technologies 1.7 Dutch National Energy efficient drying using liquid sorption 0.3 US-DOE US China Clean Energy Research Center 12.5 Dutch National Mechanical steam recompression 2.2 US-DOE Body in White Joining of Aluminum to advanced high strength steel at prototype scale 1.5 Dutch National Nanofiltration Membranes for Extreme Industrial Conditions 0.5 US-DOE Institute for Advanced Composites Manufacturing Innovation 70 Dutch National Energy Efficient Affinity-driven Molecular Separation 0.7 US-DOE Integrated Computation Materials Engineering Development of Carbon Fiber Composites for Lightweight Vehicles 6.0 Dutch National Cost Reduction Industrial Heat Pumps 0.5 US-DOE Ambient pressure XPS for in situ studies of heterogeneous cata-lysts 0.3 Dutch National Electrons to Close the Carbon Cycle 1.1 US-DOE Imaging Model Ziegler Natta Catalysts with Single-Atom Sensi-tivity 0.2 Dutch National Solvent Tolerant Nanofiltration and Reverse Osmosis Membranes for the Purification of Industrial Aqueous Streams 1.1 US-DOE Atomic Force Microscopy Capability Development 0.1 European Commission Sustainable multifunctional coating resins for scavenging applications 0.6 US-DOE Additive Manufacturing of Polyurethane Materials 0.04 European Commission Innovative tools, methods and indicators for optimizing the resource efficiency in process industry 5.2 US-DOE Modeling the Effect of Film Morphology on the Performance of an OLED Device 0.04 European Commission PU Disruptive Technology to Dramatically Improve Energy Efficiency of Household Appliances 2.6 US-DOE 3D Structure and Organization in Polymeric and Organic Thin Films 0.2

European Commission Integrated Process Control-based on Distributed In-Situ Material and Energy Feedstock Rankings 8.0 US-DOE Bio-Syngas fermentation for C6-C14 alcohol production as a pathway to fuels 1.2 European Commission Compact Retrofit Advanced Thermal Energy storage 0.6 US-DOE Rapid Advancement Process Intensification Deployment Manu-facturing Innovation Institute 70.0 European Commission Formulations & Computational Engineering 4.3 US-NSF Selective C-H Borylation of Arenes and Heterocycles 0.4 European Commission Advanced Composite Material Selection Platform with a Seam-less Integration of Material Models and multidisciplinary Design framework 4.3 US-NSF Improved Association-based Models for Separations in the Bioe-conomy 0.4 European Commission Demonstration of an innovative and versatile recycling scheme for increasing the water efficiency in the petrochemical industry 1.8 US-NSF In situ generation of two phase flows to eliminate membrane con-centration polarization and fouling 0.4 European Commission Innovative Solutions in the Process Industry for Next-Generation Resource Efficient Water Management 6.8 * The dollar figure listed is the value of the direct government support for the total program. Several programs have multiple participants receiving assistance. These programs were active in 2017; however, many are multiyear. European Commission Compressed Natural Gas Transport System 13.2

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102-12 External Initiatives governance, the scope of the disclosure GRI 302-1 on page 76 of the 2016 Responsible Care® Management System is not strictly Dow as was reported for Dow Sustainability Report as 479 2016 because of the merger transaction. Million GJ. This value was the result of a United Nations Global Compact (UNGC) Variances from the Dow scope are mathematical error and should have been UNGC Caring for Climate signatory explained with the individual topics and 0.479 Million GJ. The amount of fuel oil International Coastal Cleanup (ICC) indicators as needed. consumed in 2017 is a similar value, small Trash Free Seas Alliance (TFSA) enough to be excluded from the table on page 94 of this report. Keep America Beautiful (KAB) 102-48 Restatements of Information Ellen MacArthur Foundation (EMF) Operating costs and Payments to Global Reporting Initiative (GRI) providers of capital for 2016 have been Biotechnology Principles restated in GRI 201-1. The Operating Costs value changed from what was GMO Answers reported in 2016 as $32,972MM. This ® Field to Market amount reflects what was moved from The Compact Cost of sales, R&D and SC&A to a new Dow U.S. Apprenticeship Program line in the 2017 Dow Form 10-K for integration and separation costs. This UN Guiding Principles on Business and occurred as a result of the merger Human Rights transaction, as certain reclassifications Carbon Disclosure Project of prior period amounts for The Dow Chemical Company were made to improve comparability with DowDuPont and to 102-49 Changes in Reporting conform with the presentation presented As a result of review of our materiality for 2017. Payments to providers of assessment, two additional topics capital value changed from what was were reported for 2017, including reported in 2016 as $3213MM. The prior GRI 301: Materials and GRI 413 Local value reflected “Net interest expense” Communities. In addition, we have as reported in the 2016 Dow Form 10-K reported indicators for GRI 404: Training which included expenses in addition to and Education to support disclosures payments to providers of capital. The for other sustainability ratings that we updated value is the sum of “interest participate in. expense and amortization of debt The DowDuPont merger transaction is discount” and “capitalized interest”. explained in detail on page 4. For some Fuel oil consumed was reported for indicators, particularly those related to

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Independent Assurance Statement to The Dow Chemical Company GRI 102-56 • Checking consistency of financial data and other information with Dow’s 2017 10K report; ERM Certification and Verification Services (ERM CVS) was engaged by The Dow Chemical Company (Dow) to provide limited assurance in relation to The Dow Chemical Company • Confirming the consistency of the reported information with our understanding of Dow’s business, operations, sustainability strategy and prior reporting. 2017 Sustainability Report (the Report), as set out below. • Reviewing external media reporting relating to Dow to identify relevant sustainability issues in the reporting period. • Checking the presentation of the information relevant to the scope of our work in the Report to ensure consistency with our findings. Engagement summary

Scope of our Whether Dow has prepared the report in accordance with the Global Reporting Initiative (GRI) Standards Comprehensive option The limitations of our engagement assurance engagement Whether Dow’s reported progress against its 2025 Sustainability Goals is fairly presented, in all material respects, in accordance with its internal reporting criteria The reliability of the assured data is subject to inherent uncertainties, given the available methods for determining, calculating or estimating the underlying information. It is important to understand our assurance conclusions in this context. Our independent assurance statement provides no assurance on statements in the report regarding future Global Reporting Initiative (GRI) Standards (2016) Reporting criteria Dow Chemical 2025 Sustainability Goals performance or on whether Dow will achieve its stated goals.

Assurance standard ERM CVS’ assurance methodology, based on the International Standard on Assurance Engagements ISAE 3000 (Revised). Our independent commentary and observations We have provided Dow with a separate confidential Management Report. In addition to, and not affecting our formal assurance conclusion above, we have the following key Assurance level Limited assurance. observations: Respective The Dow Chemical Company is responsible for preparing the Report and for the collection and presentation of the information within it. • • Taking into account the ambitious nature of the 2025 Sustainability Goals and the extensive range of supporting initiatives with a wide range of stakeholders, progress responsibilities ERM CVS’s responsibility is to provide conclusions on the agreed scope based on the assurance activities performed and exercising our professional judgement. achieved to date demonstrates the positive impacts of Dow’s 2025 Sustainability Goals and underlines the effort and resources applied to these commitments. Dow recognises that the collection and reporting of reliable and consistent performance information needed to monitor and measure the progress against each goal is challenging. Our conclusions Further work is needed to define what success and achievement against the 2025 Sustainability Goals will look like for Dow and to ensure stakeholders understand this by Based on our activities, as described below: continuing to transparently disclose and discuss developments and measures of progress in the public domain. • Nothing has come to our attention to indicate that the report has not been prepared in accordance with the Global Reporting Initiative (GRI) Standards Comprehensive option; • Nothing has come to our attention to indicate that reported progress against Dow’s 2025 Sustainability Goals is not fairly presented, in all material respects, in accordance with internal reporting criteria.

Jennifer Iansen-Rogers Our assurance activities Head of Corporate Assurance Services A multi-disciplinary team of sustainability and assurance specialists performed the following assurance procedures 1 June 2018 • A visit to the head office of Dow in Midland, Michigan, to: -- Interview management representatives in order to understand Dow’s sustainability strategy, policies and management systems for the relevant disclosures; ERM Certification and Verification Services, London -- Interview 2025 Sustainability Goal project teams in order to understand the evolution and definition of the goals and the basis on which performance is determined www.ermcvs.com; email: [email protected] -- Review internal reporting guidelines, including reporting databases as well as the associated conversion factors used; -- Review the completeness of data reported by all the sites and the effectiveness of the internal review (QA/QC processes), including the consolidation process; ERM CVS is a member of the ERM Group. The work that ERM CVS conducts for clients is solely related to independent assurance activities and auditor training. Our processes are designed and implemented to ensure that -- Review performance during the reporting period against the 2025 Sustainability Goals; the work we undertake with clients is free from bias and conflict of interest. ERM CVS and the ERM staff that have undertaken this engagement have provided no consultancy related services to Dow in any respect -- Review the materiality determination process including the results of stakeholder engagement; -- Review a sample of qualitative and quantitative evidence supporting the reported information;

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GRI CONTENT INDEX We prepared this report in accordance with the Global Reporting Initiative (GRI) Standards Comprehensive option. This Index of Content serves as a navigation tool for the GRI standards. GRI 102-55

GRI Standard/Disclosure Page Number(s)/Location Omission GRI CONTENT INDEX 1. Organizational Profile 102-1 Name of the organization 19

102-2 Activities, brands, products, and services 57

102-3 Location of headquarters 19

102-4 Location of operations 19

102-5 Ownership and legal form 19

102-6 Markets served 57

102-7 Scale of the organization 20

102-8 Information on employees and other workers 23, 28, 29

102-9 Supply chain 77

102-10 Significant changes to the organization and its supply chain 4

102-11 Precautionary Principle or approach 72

102-12 External initiatives 122

102-13 Membership of associations 74

2. Strategy

102-14 Statement from senior decision-maker 7

102-15 Key impacts, risks and opportunities 41

3. Ethics and Integrity

102-16 Values, principles, standards, and norms of behavior 35

102-17 Mechanisms for advice and concerns about ethics 37

4. Governance 113, 114 102-18 Governance structure http://www.dow-dupont.com/investors/corporate-governance 102-19 Delegating authority 114

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GRI Standard/Disclosure Page Number(s)/Location Omission GRI Standard/Disclosure Page Number(s)/Location Omission

4. Governance 5. Stakeholder Engagement Executive-level responsibility for economic, environmental 102-20 114 102-40 List of stakeholder groups 50 and social topics 102-41 Collective bargaining agreements 24 Consulting stakeholders on economic, environmental and 102-21 114 social topics 102-42 Identifying and selecting stakeholders 50 Composition of the highest governance body and its 102-22 113 102-43 Approach to stakeholder engagement 50 committees 102-44 Key topics and concerns raised 50 102-23 Chair of the highest governance body 112 6. Reporting Practice http://www.dow-dupont.com/investors/corporate-governance/default.aspx 102-24 Nominating and selecting the highest governance body Corporate Governance Guidelines document, Pages 2-5 102-45 Entities included in the consolidated financial statements 119

102-25 Conflicts of interest 114 102-46 Defining report content and topic boundaries 38 Role of highest governance body in setting purpose, values 102-26 115 102-47 List of material topics 40 and strategy 102-48 Restatements of information 122 102-27 Collective knowledge of highest governance body http://www.dow-dupont.com/investors/corporate-governance 102-49 Changes in reporting 122 102-28 Evaluating the highest governance body’s performance 115 Identifying and managing economic, environmental and social 102-50 Reporting period 5 102-29 41, 50 impacts 102-51 Date of most recent report 5 102-30 Effectiveness of risk management processes 41 102-52 Reporting cycle 5 102-31 Review of economic, environmental and social topics 115 102-53 Contact point for questions regarding the report 5 102-32 Highest governance body’s role in sustainability reporting 5 102-54 Claims of reporting in accordance with the GRI Standards 5 102-33 Communicating critical concerns 115 102-55 GRI content index 126 102-34 Nature and total number of critical concerns 116 102-56 External assurance 124 102-35 Remuneration policies 116 201: Economic Performance 102-36 Process for determining remuneration 117 Management Approach 21 102-37 Stakeholders’ involvement in remuneration 118 201-1 Direct economic value generated and distributed 21 102-38 Annual total compensation ratio 28 Financial implications and other risks and opportunities due to 201-2 44 Confidentiality constraints. In the interest of confidentiality and climate change 102-39 Percentage increase in annual total compensation ratio 31 competitiveness, Dow does not report ratios based on individual 201-3 Defined benefit plan obligations and other retirement plans 118 compensation, or make pay decisions based on these ratios. Confidentiality constraints. We disclosed grants information. However, tax related information for this disclosure is confidential in 201-4 Financial assistance received from government 120 many instances as we have agreements with governments that in many instances include non-disclosure provisions.

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GRI Standard/Disclosure Page Number(s)/Location Omission GRI Standard/Disclosure Page Number(s)/Location Omission

301: Materials 306: Effluents and Waste

Management Approach 90 Management Approach 90

301-1 Materials used by weight or volume 90 306-1 Water discharge by quality and destination 103

301-2 Recycled input materials used 90 Information partially unavailable. Disclosure on Page XX incudes total weight of waste, approximate fraction hazardous and non- 301-3 Reclaimed products and their packaging materials 90 306-2 Waste by type and disposal method 105 hazardous, and breakdown of total waste by disposal method. We will review the data process to include the breakdown of hazardous 302: Energy and non-hazardous by disposal method by 2019. Management Approach 94 306-3 Significant spills 106 302-1 Energy consumption within the organization 94 Information unavailable. We will be reviewing ways to address this disclosure on a yearly basis as we define the need to capture this 302-2 Energy consumption outside of the organization 94 306-4 Transport of hazardous waste information. See page 80 for discussion of our Transportation Safety 302-3 Energy intensity 95 Index.

302-4 Reduction of energy consumption 95 306-5 Water bodies affected by water discharges and/or runoff 101 Not applicable. We don’t sell many products that require energy to 307: Environmental Compliance 302-5 Reductions in energy requirements of products and services use (like appliances, cars, computers). Management Approach 90 303: Water 307-1 Non-compliance with the environmental laws and regulations 106 Management Approach 100 401: Employment 303-1 Water withdrawal by source 102 Management Approach 22 303-2 Water sources significantly affected by withdrawal of water 100 401-1 New employee hires and employee turnover 24 303-3 Water recycled and reused 101 Benefits provided to full-time employees that are not provided 401-2 24 305: Emissions to temporary or part-time employees

Management Approach 90 401-3 Parental leave 24

305-1 Direct (Scope 1) GHG emissions 96 403: Occupational Health and Safety

305-2 Energy indirect (Scope 2) GHG emissions 96 Management Approach 85 Disclosure on page 85 describes Environmental, Health and Safety 305-3 Other indirect (Scope 3) GHG emissions 97 Workers representation in formal joint management–worker 403-1 85 teams, but not an organized program of formal joint management – health and safety committees 305-4 GHG emissions intensity 97 worker committees.

305-5 Reduction of GHG emissions 98 Information unavailable. Due to the lack of global data available within a standard and reliable source, the absentee rate and gender Types of injury and rates of injury, occupational diseases, lost 403-2 86 breakdown will not be reported. Dow is taking steps to evaluate and 305-6 Emissions of ozone-depleting substances (ODS) 98 days, and absenteeism and number of work-related fatalities implement a data collection platform in the next 3 years to permit the Nitrogen oxides (NOX), sulfur oxides (SOX) and other 305-7 98 company to more accurately report data on employee absentee rate. significant air emissions Workers with high incidence or high risk of diseases related to 403-3 87 their occupation Health and safety topics covered in formal agreements with 403-4 89 trade unions

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GRI Standard/Disclosure Page Number(s)/Location Omission

404: Training and Education

Management Approach 22

404-1 Average training hours per employee 22 Programs for skills management and lifelong learning that 404-2 support the continued employability of employees and assist 25 them in managing career endings Percentage of employees receiving regular performance and 404-3 25 career development reviews by gender 405: Diversity and Equal Opportunity

Management Approach 27 49, 50

405-1 Diversity of governance bodies and employees 27 Information unavailable. To compare salary and remuneration of women to men, we ran a pay equity study for our professional workforce which is a multi-attribute study (years of service, 405-2 Ratio of basic salary and remuneration of women to men 28 education, performance, etc). We did not find a pay equity issues for this section of our workforce (~50%). Dow believes this is a comprehensive approach. In future studies (2018) we will work on a process to have our complete employee population represented. 413: Local Communities

Management Approach 107 Operations with local community engagement, impact 413-1 51, 107, 110 assessments and development programs Operations with significant actual and potential negative 413-2 51, 110 impacts on local communities.

The Dow Chemical Company dow.com/sustainability ® Trademark of The Dow Chemical Company © 2018 Form No. 910-00002-0618BBI